President-elect Donald Trump has tapped Florida Congressman Matt Gates to serve as the next US attorney general, rattling off both his allies and opponents. It's a move that shows he's doubling down on his pro-crypto agenda.
The appointment of Gates, known as a staunch advocate of Bitcoin, is a clear sign that Trump's second term will prioritize a pro-crypto agenda, potentially exacerbating divisions within his own party.
Gaetz “will root out systemic corruption at the DOJ and restore the department to its mission of fighting crime and upholding our democracy and our Constitution,” Trump wrote on his social media account on Wednesday.
Following the announcement, Bitcoin rose to a high of $93,477, with the market already reacting positively to a more supportive regulatory environment.
The nomination of Gates was the Republican Party's It follows success in the 2024 elections, where pro-crypto candidates won majorities in both the House and Senate.
However, during a closed-door session of the Republican House, the nominee's identification faced a lot of harassment, with several members expressing disbelief, according to an Axios report.
Several senators are reported to have expressed their doubts about his readiness for the position due to his confrontational approach and limited legal experience.
Getz has previously advocated for regulation of the crypto industry, opposing what he sees as federal overreach by agencies like the SEC.
In June, Gaetz introduced legislation that would allow Americans to pay their federal taxes using bitcoin. The bill seeks to amend the Internal Revenue Code of 1986, allowing the IRS to accept Bitcoin for tax payments and to contract for related services.
Despite enthusiasm from the crypto sector, Gaetz faces a tough validation battle. His past legal troubles — including federal sex-trafficking charges during a Senate hearing and an investigation that ended without charges — could come under scrutiny.
He was also under ethical review by the council in relation to misconduct and use of money.
On Wednesday, House Speaker Mike Johnson confirmed that Gates had resigned from his congressional seat because the investigation was limited to active members of Congress.
But for the crypto industry, the mere prospect of getting a Bitcoin attorney general is seen as a major victory.
Even if the Republicans have a majority, a few dissenting votes could defeat the candidate. But Trump allies are pushing for swift approval, saying Gates' reformist agenda is essential to overhauling the DOJ's approach to crypto regulations.
Edited by Stacy Elliott.
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