LAS VEGAS—The cryptocurrency world was once the province of libertarians who kept their distance from the government. These days, it is in the midst of an all-out MAGA takeover.

Take the scene at the industry’s flagship event in Las Vegas last week. Star speakers at the Bitcoin Conference included a parade of Trump officials and Washington allies. Crypto boosters including billionaire bitcoin evangelist Michael Saylor got a private audience with Vice President JD Vance to push their favored policies.