President-elect Donald Trump has picked Rep. Matt Gaetz (R-Fla.) as the nominee for attorney general under the incoming administration.
A controversial figure, Gaetz has been known for pushing radical proposals in favor of cryptocurrencies, especially Bitcoin BTC/USD.
Don't Miss:
- Over the last five years, the price of gold has increased by approximately 83% — Investors like Bill O’Reilly and Rudy Giuliani are using this platform to create customized gold IRAs to help shield their savings from inflation and economic turbulence.
- Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – You can still get 4,000 of its pre-IPO shares for just $1,000
What happened: Earlier in June, he introduced a bill that would allow federal income tax payments to be made in the apex cryptocurrency.
Gaetz had said that the intention behind proposing the bill was to promote innovation, increase efficiency, and offer more flexibility to American citizens.
Trending: This Adobe-backed AI marketing startup went from a $5 to $85 million valuation working with brands like L'Oréal, Hasbro, and Sweetgreen in just three years – here's how there's a limited time opportunity to invest at $1,000 for only $0.50/share before closing date.
Key provisions of the proposed law included the rapid conversion of received Bitcoin to its dollar equivalent at the end of the transaction, ensuring stability and practicality in its adoption.
Gaetz has also spoken highly of pro-Bitcoin El Salvador President Nayib Bukele's policies, linking the country's quest for financial freedom with the leading digital asset.
Trending: 1 in 4 Americans own a share of Bitcoin according to NASDAQ — this platform touts returns as high as 12.5% APY and is giving $100 in welcome rewards if you sign up today.
The GOP nominee even cosponsored a bill aimed at abolishing the Federal Reserve, a classic libertarian, cypherpunk viewpoint shared by cryptocurrency maximalists.
Why It Matters: The nomination of Gaetz comes as the congressman is under investigation by the House Ethics Committee for sexual misconduct.
See Also: If you invested $100 in DOGE when Elon Musk first tweeted about it in 2019, here’s how much you’d have today.
Allegations against the Trump loyalist include sexual misconduct, illicit drug use, accepting improper gifts, and more. Gaetz has denied the allegations.
If confirmed for the position, Gaetz will take over from current Attorney General Merrick Garland.
Read Next:
- ‘Scrolling to UBI': Deloitte's #1 fastest-growing software company allows users to earn money on their phones – invest today with $1,000 for just $0.25/share
- With over 7.8K investors including Meta, Google, And Amazon Execs — this AI Startup's valuation has skyrocketed from $5 million to $85 million in just three years. Be an early investor with just $1,000 for only $0.50/share today before the offer closes in 2 weeks.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
