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Trump nominates pro-crypto congressman for US Attorney General
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In an unexpected move, United States President-elect Donald Trump has named Florida congressman and crypto market advocate Matt Gaetz as the country’s next Attorney General. The decision, announced last Wednesday (8), reinforces Trump’s pro-crypto agenda. At the same time, it signals that the new government should favor the cryptocurrency market.
Gaetz, a well-known Bitcoin supporter, is a bold choice for the position, especially considering the impact his appointment could have on regulating the cryptoactive sector. In a post on the social network Truth Social, Trump stated that Gaetz will “eliminate systemic corruption in the Department of Justice (DOJ)”.
Furthermore, the president promised that he will “restore the mission of fighting crime and defending the U.S. Constitution.” Following the announcement, the price of Bitcoin soared to a record high of $93,477, reflecting market expectations for a more favorable regulatory environment.
The appointment comes shortly after the success of pro-crypto candidates in the 2024 elections. The Republican Party secured a majority in both the House and the Senate, strengthening the base of support for policies aimed at the cryptocurrency market.
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However, Gaetz’s choice generated mixed reactions. According to Axios, some Republican congressmen expressed surprise and reservations about the congressman’s suitability for the role. Several senators reportedly expressed doubts about his legal experience and combative style. This could make the confirmation process in the Senate more difficult.
Matt Gaetz often advocates deregulation of the cryptocurrency industry and criticizes what he considers excessive federal intervention. In June, he introduced a bill that would allow US citizens to pay federal taxes in Bitcoin.
Despite the enthusiasm in the crypto sector, Gaetz’s confirmation faces challenges in the Senate. Previous investigations involving the congressman, such as a federal investigation on suspicion of child trafficking — which was closed without charges — are expected to be resumed at confirmation hearings.
Additionally, Gaetz was the subject of an ethics investigation in the House of Representatives over allegations of misconduct and inappropriate use of funds. This process is now suspended following his resignation from his parliamentary post to take up the appointment.
House of Representatives Speaker Mike Johnson confirmed that Gaetz has left Congress. This halted the ethics investigation, which can only take place against serving members. For the cryptocurrency market, the prospect of a pro-Bitcoin Attorney General is considered a significant victory, given that, if confirmed, Gaetz is expected to adopt a more permissive approach and encourage innovation in the sector.
Trump nominates pro-crypto congressman for US Attorney General
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Trump nominates pro-crypto congressman for US Attorney General
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Trump nominates pro-crypto congressman for US Attorney General
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Trump nominates pro-crypto congressman for US Attorney General
