US Legislators Confirm Howard Lutnick as Commerce Secretary

The US Senate is set to confirm the appointment of Howard Lutnick as the latest Secretary of Commerce, as part of President Trump’s “America First” trade policy with tariffs being leveraged as a tool for negotiations.

Lutnick’s appointment comes at the heels of a 51-45 vote that happened on February 18, 2025, in favor of Lutnick taking on the role of the 41st Secretary of Commerce. As Secretary of Commerce, Lutnick will be manning the helm for US business interests and oversees an apparatus restricting the export of certain technology, such as semiconductors, to adversaries like China and Russia.

Moreover, the role will place Lutnick at the frontier of Washington’s tariff and trade agenda too, with oversight on the US Trade Representative’s office, according to President Trump. Namely, Trump has unveiled blanket duties of up to 25 percent on immediate US neighbors Canada and Mexico, threatening to snarl supply chains in key sectors like automobiles and setting off a flurry of negotiations.

Lutnick has displayed his willingness for broad “reciprocal tariffs” against US trading partners to start as early as 2 April. Such levies, which Washington said are aimed at correcting “longstanding imbalances” in trade, would be tailored to each country.

Lutnick as a Cryptocurrency Advocate

It has been well-documented that Lutnick is an advocate for cryptocurrencies, namely Bitcoin and Tether. He was quoted as saying that Bitcoin should be free to trade everywhere in the world, and likened it to gold. He defended Tether’s USDT reserves at the Bitcoin Conference 2024, saying that they were fully backed by gold, Bitcoin, and U.S. Treasuries.

Lutnick was the former CEO of Cantor Fitzgerald. During his time in Cantor, Lutnick strengthened his connections within the cryptocurrency sector by offering custody services to Tether.  He also defended stablecoins when it was questioned as a potential proponent for illegal funding during his Senate confirmation hearing. 

Since currently the SEC is reviewing applications for staking in Ethereum ETFs, Lutnick’s appointment may influence a change in the Commerce Department’s position on digital assets.

What does this mean for Crypto Casinos?

With online casino games becoming more open to using various cryptocurrencies, having Howard Lutnick hold a prominent position can give cryptocurrency environments such as crypto casinos more leeway in terms of regulation and transactions.

Given the current administration also having a pro-cryptocurrency position, it might only be a matter of time until their policies and initiatives will become law, making digital assets even more lucrative and easier to utilize.