Originally published on: November 14, 2024
President-elect Donald Trump made a surprising nomination on Nov. 13 by selecting Representative Matt Gaetz for the role of Attorney General. Gaetz wasted no time in announcing his immediate resignation from Congress, ending his tenure in the House of Representatives and halting an ethics investigation into his alleged misconduct.
One of Gaetz’s notable legislative contributions was a bill introduced on June 25 that aimed to allow the Internal Revenue Service to accept Bitcoin payments for federal income taxes. Inspired by Salvadoran President Nayib Bukele’s inauguration, Gaetz sought to modernize the US tax system.
With his nomination, Gaetz’s influence on cryptocurrency policy is expected to grow, as he is known for supporting digital assets and advocating for their integration into mainstream financial systems. His appointment could lead to a regulatory approach that fosters digital asset innovation while ensuring appropriate oversight.
Trump praised Gaetz’s dedication to reform at the Department of Justice and his focus on government oversight issues, particularly within the DOJ. As Attorney General, Gaetz is likely to address concerns about “government weaponization” within federal agencies, aligning with his conservative views.
Gaetz’s track record suggests that he will work to shape the DOJ’s approach to digital assets under the new administration, potentially positioning the US more favorably in the global digital economy. While crypto has not been a central focus of his public platform, his new role may elevate crypto policy as a key component of his work in the DOJ.
The nomination of Matt Gaetz as Attorney General marks a significant shift in the US government’s approach to digital assets, with implications for the future of cryptocurrency regulation and innovation. Stay informed about the latest developments in crypto policy by subscribing to our newsletter today.
