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Representative Matt Gaetz of Florida is the latest name to get a post under Trump’s second administration.
He will serve as the next Attorney General. The Florida lawmaker has previously shown his support for crypto and the blockchain and has caught media attention for his vocal opinions on digital currency policies and federal oversight.
Earlier in June, Gaetz proposed that US residents pay their income tax with Bitcoin. His nomination underscores incoming President Donald Trump’s continued push to reshape the Department of Justice (DOJ), dismantle “a weaponized government,” and create favorable conditions for cryptocurrency.
A Controversial Yet Loyal Figure In Trump’s Cabinet
Trump’s nomination of Matt Gaetz is one of the most high-profile announcements this week. The president’s recommendation this Wednesday is by far his most controversial yet, and it signals that the president wants to shake things up.
Gaetz is a colorful and controversial figure in Republican politics, and he’s remembered as one of those who called for the ouster of 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 described Gaetz as a “tenacious and gifted attorney” who used his time in Congress to reform the justice system. Matt Gaetz has consistently called out the Biden administration for “weaponizing the justice system.”
Once confirmed by the Senate, Gaetz aims to rebuild the DOJ, restore its credibility, and ensure that it operates in a transparent manner.
Matt Gaetz Supports Bitcoin And Blockchain
Aside from his advocacy to reform the justice system, Gaetz has also set his sights on crypto and the blockchain. In June, he proposed allowing income tax payments in Bitcoin.
The bill aims to modify the country’s Internal Revenue Code to allow the United States Treasury to accept BTC as a payment method. According to Gaetz, this move will foster innovation, promote efficiency, and offer options to Americans.
Under the Matt Gaetz bill, the Treasury secretary must recommend rules on processing BTC payments for specific types of taxes. The bill further states that BTC payments will be converted into USD immediately after receipt.
Trump Continues Push To Legitimize Bitcoin
Gaetz’s nomination is part of Trump’s push to legitimize Bitcoin and crypto. During the campaign, Trump promised to support the crypto industry by ending President Joe Biden’s aggressive policies against Bitcoin and cryptocurrencies. In one of his speeches, Trump pledged to make the US the capital of Bitcoin mining.
Aside from Gaetz, a few more pro-crypto officials are under consideration. For example, Howard Lutnick of Cantor Fitzgerald is groomed to become the Treasury secretary. Also, Trump has announced the appointment of Elon Musk and Vivek Ramaswamy to head the Department of Government Efficiency (DOGE).
Featured image from DALL-E, chart from TradingView
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