Ted Cruz is one of crypto's true believers, even as calls for regulation grow
and less than $500 in donations from the industry-supported Bit-PAC. He also owns a relatively modest amount of bitcoin, one of more than 30 financial holdings listed on a disclosure form last year.
“His approach has been high level instead of getting into the weeds,” said Ron Hammond, government relations director at the Blockchain Association, a trade group for crypto firms. “He isn’t on the relevant committees. Largely his interest seems more about political ideology.
That vision is far outside what most economists predict as the future of cryptocurrency, which remains at the fringes of the global financial industry. But such sweeping, anti-establishment declarations are in keeping with a political career in which Cruz has sought to carve out his own brand apart from the Republican mainstream, focused on issues like personal liberty and the growing national debt.
“They are very concerned about liberty, personal privacy,” he said. “ provides them with anonymity to conduct their affairs without the government knowing what they’re doing. In some cases it’s to avoid taxes, in others they just have a fear of government. What unites them is a desire to be as far off the radar as possible.
Cruz has become a regular presence at such forums, bringing the same studied verbiage to the topic as he did arguing before the U.S. Supreme Court as Texas solicitor general.he purchased between $15,000 and $50,000 worth of the cryptocurrency “He was reading pretty technical books,” Bratcher said. “There are a lot of politicians who are supportive of our industry, particularly in the state legislature. Cruz is probably the highest profile. He seems to come at it from a more philosophical perspective.”
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