Half of US Voters Consider Crypto an Important Election Issue: Survey Results
A recent survey has found that nearly 49% of registered US voters believe political candidates must support pro-crypto policies in the upcoming 2024 election. Conducted by HarrisX on behalf of Consensys, the research sheds light on the growing political influence of crypto supporters and the increasing significance of cryptocurrency regulation as a key issue.
Crypto’s Rising Influence on US Elections
The survey, conducted from September 4 to September 14, 2024, sampled a geographically representative group of 1,664 US voters, along with smaller samples from battleground states such as Pennsylvania, Michigan, Wisconsin, and Texas. The findings revealed that 92% of crypto owners plan to vote in the presidential election, highlighting the potential of crypto voters to shape election outcomes.
According to Dritan Nesho, CEO of HarrisX, the number of crypto-motivated voters in every state polled exceeds the margin of victory in the last presidential election. This suggests that cryptocurrency regulation could become a decisive factor in the 2024 election.
Voter Trust in Crypto Policies Split Between Parties
While 49% of respondents believe pro-crypto policies are important, the survey revealed an almost even split between political parties on trust in handling crypto. 35% of voters expressed confidence in the Republican Party’s stance on crypto, while 32% sided with the Democrats. However, a notable 26% remain undecided about which party to trust on the issue.
Despite former President Donald Trump’s strong rhetoric supporting crypto, only 56% of voters said they were excited by his pro-crypto stance. Additionally, 40% of voters indicated they would consider switching party allegiance if the opposing candidate advocated for pro-crypto policies.
Voter Sentiment on US Crypto Regulation
A significant portion of respondents voiced dissatisfaction with the state of crypto regulation in the US. 40% believe the country is lagging behind other nations in terms of regulation, while only 25% feel the US is leading in this area. This concern has become a major topic as SEC’s “regulation through enforcement” has been viewed as stifling growth in the industry.
Key Findings on Crypto Ownership
The survey also shed light on crypto ownership in the US. Currently, 19% of voters own some form of cryptocurrency, with Bitcoin being the most popular, owned by 13% of voters. Ethereum follows at 5%, and Solana at 3%. Interestingly, about one-third of respondents said they plan to purchase cryptocurrency within the next year.
Calls for Regulatory Clarity and Industry Improvements
The survey highlighted several areas where voters feel improvements are necessary to drive broader crypto adoption. These include:
- Enhancing consumer and fraud protection measures.
- Providing greater access to information on crypto regulations.
- Simplifying the user experience of Web3 applications.
- Clarifying regulatory frameworks for developers and users.
- Promoting transparency across the industry.
Joe Lubin, CEO of Consensys, emphasized that both voters and the crypto industry are eager for regulatory clarity, stating that the US has operated under a cloud of uncertainty for too long. As crypto becomes a bipartisan issue, political candidates may increasingly focus on crypto-friendly policies to attract this growing and influential voter base.
