Emily Walker
Florida’s Representative Matt Gaetz has been chosen for a significant role in Trump’s upcoming administration. He will be stepping in as the next Attorney General. Known for his strong advocacy toward cryptocurrency and blockchain technology, Gaetz has attracted attention for his outspoken views on digital currency regulations and federal oversight.
In June, he suggested that Americans should be able to pay their income taxes using Bitcoin. His appointment highlights President Donald Trump’s ongoing efforts to reform the Department of Justice (DOJ), eliminate what he terms a “weaponized government,” and create a more favorable environment for cryptocurrencies.
A Controversial Yet Loyal Figure In Trump’s Cabinet
The selection of Matt Gaetz by Trump is one of the most notable developments this week. This announcement, coming from the president this Wednesday, marks a considerable shift and signifies his intent to bring about changes within his administration.
Gaetz is often seen as a contentious figure in the Republican sphere, particularly noted for his call to remove then-Speaker Kevin McCarthy.
It will be an honor to serve as President Trump’s Attorney General! pic.twitter.com/dg0iQ0bA6Y
— Matt Gaetz (@mattgaetz) November 13, 2024
Trump has called Gaetz a “tenacious and gifted attorney” who has utilized his congressional experience to advocate for justice system reform. Gaetz has been a fierce critic of the Biden administration for allegedly “weaponizing” the Department of Justice.
Once he receives Senate confirmation, Gaetz plans to rebuild the DOJ, restoring its credibility and ensuring transparency in its operations.
Matt Gaetz Supports Bitcoin And Blockchain
In addition to his plans for justice system reform, Gaetz is focused on advancing the use of crypto and blockchain technology. His proposal from June aims to enable tax payments in Bitcoin.
This legislation seeks to amend the Internal Revenue Code so that the United States Treasury can accept BTC payments. Gaetz asserts that this initiative will drive innovation, promote efficiency, and provide additional options for citizens.
According to his bill, the Treasury secretary must devise regulations for processing BTC payments for various tax types, with the stipulation that BTC payments will convert to USD immediately upon receipt.
Trump Continues Push To Legitimize Bitcoin
Gaetz’s nomination reflects Trump’s ongoing efforts to legitimize Bitcoin. Throughout his campaign, Trump expressed intentions to bolster the cryptocurrency sector by reversing President Joe Biden’s stringent policies against Bitcoin and other digital currencies. He has promised to establish the US as the leading hub for Bitcoin mining.
Besides Gaetz, other pro-crypto candidates are also being considered, including Howard Lutnick from Cantor Fitzgerald for the Treasury secretary position. Furthermore, Trump has nominated Elon Musk and Vivek Ramaswamy to lead the Department of Government Efficiency (DOGE).
Featured image from DALL-E, chart from TradingView