Vance urges crypto industry to expand involvement in politics after 2024 wins
Vice President Vance called on the crypto industry Wednesday to continue expanding its involvement in politics, after spending more than $200 million to boost crypto-friendly candidates in the 2024 election.
Speaking at a Bitcoin conference in Las Vegas, Vance acknowledged the industry's efforts in the previous election, underscoring its role in the Ohio Senate race that unseated crypto-skeptical Former Sen. Sherrod Brown (D).
'Part of the reason that I'm standing here, part of the reason that Bernie Moreno defeated Sherrod Brown in the Senate campaign last year, is because you guys got organized and got involved in American politics,' the vice president said.
A crypto-aligned super PAC poured more than $40 million into the race between Brown and Moreno, securing a key win with the ouster of the former chair of the Senate Banking Committee.
'I'm grateful to you for that, but there's a lesson to take from that experience, which is that unless you guys get involved in politics, politics is going to ignore this industry,' Vance added. 'Now you took a big step in 2024, and I'll tell you, every victory that we win, it's only a provisional victory.'
'Take the momentum of your political involvement in 2024 and carry it forward to 2026 and beyond,' he added. 'Don't ignore politics, because I guarantee you, my friends, politics is not going to ignore this community, not now and not in the future.'
The crypto industry already appears poised to keep up its efforts in future elections. Pro-crypto super PAC Fairshake said in January that it had more than $116 million in cash on hand for the 2026 midterm elections.
Its widespread spending in the 2024 election is viewed as a key factor in moving the needle on crypto in Congress. While President Trump has fully embraced the industry in his second term, he will need lawmakers to get his legislative agenda across the finish line.
The administration has prioritized two key crypto bills long sought by the industry — one creating a regulatory framework for payment stablecoins and another divvying up regulation of the full digital assets market between two U.S. regulators.
Stablecoin legislation has gained some ground in the Senate, clearing an early procedural hurdle this month, although it still has a way to go before final passage. Market structure legislation, likely to be a more complicated effort, has yet to be formally introduced.
Vance on Wednesday underscored the administration's focus on these two pieces of legislation.
'We're optimistic that the Senate is able to move quickly on passing a clean GENIUS Act, and for the House to follow up and do the same,' he said, referring to the Senate's stablecoin bill. 'And of course, once that happens, our great President Trump will sign it into law the minute it comes across his desk.'
'Now when, when that's happened, when the administration will then fully shift to our third priority, which is to enact a transparent and tailored regulatory framework for digital assets, one that's pro innovation and fully incorporates crypto into the mainstream economy,' he added.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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