On November 13, Donald Trump announced the appointment of Congressman Matt Gaetz as U.S. Attorney General. This decision paves the way for potential reforms in the cryptocurrency sector and the American tax system.
Appointment and Implications
Following his appointment announcement, Matt Gaetz stated he would resign from Congress 'effective immediately,' ending his role in the House of Representatives. This decision halts the ongoing House Ethics Committee investigation into allegations of sexual misconduct and drug use started in 2021.
Gaetz’s Cryptocurrency Initiatives
Gaetz has shown interest in crypto policy and in 2021 introduced a bill mandating the IRS to accept Bitcoin for federal income taxes. This initiative was inspired by his visit to El Salvador during President Nayib Bukele’s inauguration and aims to 'modernize' the U.S. tax system.
Political Priorities of the New Attorney General
Trump expressed support for Gaetz's congressional efforts, particularly regarding 'desperately needed reform at the Department of Justice.' As Attorney General, Gaetz and his colleagues aim to address what they see as 'government weaponization' within federal institutions, a topic he has previously emphasized.
Matt Gaetz’s appointment affects not only domestic policy but also the development of the crypto industry in the U.S. His longstanding interests in digital assets and tax reforms indicate potential changes in other areas as well.
