U.S. President Donald Trump has nominated Florida Congressman Matt Gaetz as Attorney General, signaling potential changes in the country's crypto policy. Gaetz is known for his support of Bitcoin and criticism of federal regulation, suggesting a push towards deregulation in the crypto space.
Gaetz Nomination and Trump's Remarks
Trump praised Gaetz as a candidate who could 'root out systemic corruption at the DOJ,' sparking excitement among crypto supporters.
Market Reaction and Bitcoin Impact
Following the announcement, Bitcoin hit an all-time high of $93,477, as optimism rose over Gaetz's potential for supportive crypto regulation.
Political Controversies and Challenges
However, Gaetz's nomination has spurred controversy. Questions about his legal qualifications and style arose in a closed-door meeting of Republicans. His confirmation hearings are expected to address past legal issues.
Matt Gaetz's appointment could herald innovative regulatory reform in the crypto sector, despite obstacles in his Senate confirmation process.
