Key Points
- Matt Gaetz, a pro-bitcoin Florida representative, has been nominated as U.S. Attorney General by President-elect Donald Trump.
- Gaetz has previously pushed for Bitcoin to be accepted for federal income tax payments and advocated for crypto deregulations.
President-elect Donald Trump has put forth Matt Gaetz, a Florida representative and a pro-bitcoin advocate, to be the next U.S. Attorney General.
After his nomination, Gaetz stepped down from his position in the House of Representative on November 13, 2024.
Trump’s Praise for Gaetz
In a post on November 13, Trump commended Gaetz for being a dedicated attorney committed to driving significant reform at the Department of Justice.
Gaetz’s key priorities include ending the misuse of government power, strengthening border security, dismantling criminal organizations, and revealing potential government corruption.
Trump described Gaetz as a champion for the constitution and the rule of law, who will eradicate systemic corruption at the Department of Justice.
Elon Musk, who was recently appointed as head of the Department of Government Efficiency, congratulated Gaetz on his new role.
Gaetz’s Stance on Crypto
Earlier this year, Gaetz, while serving as a member of Congress, introduced a bill advocating for Bitcoin to be accepted as payment for federal income tax for Americans.
This bill, proposed after his visit to El Salvador, aimed to modernize the U.S. tax system.
The bold move was intended to “promote innovation, increase efficiency, and offer more flexibility to American citizens.”
The proposal seeks to amend the Internal Revenue Code of 1986 to accept Bitcoin for tax payment and expand this payment option to other federal services.
Gaetz has also advocated for various crypto deregulations and pushed back against the federal agency’s oversight, arguing that such measures would hinder innovation and growth.
His appointment as an Attorney General indicates potential approaches to law enforcement and more flexible regulations within the crypto industry under the Trump presidency.