As the 2024 U.S. elections approach, a survey by The Digital Chamber reveals that approximately 26 million U.S. voters — or 16% of respondents — consider pro-crypto policies as a top factor in deciding which candidate to support. This emerging “crypto voting bloc” could have a significant impact in what is predicted to be a closely contested election.
Crypto: A Key Election Issue
One in seven respondents in the 1,004-person survey said they were “much” or “somewhat” more likely to vote for a candidate with a favorable stance on cryptocurrency regulation. The survey, released on October 17, highlights how crypto issues are becoming increasingly important in U.S. politics, with both Democrats and Republicans showing support for candidates who back the crypto industry.
- 25% of Democrats and 21% of Republicans said that a candidate’s stance on crypto would positively influence their vote.
The survey’s findings suggest that voters are calling for “smart, balanced regulation” that protects consumers while encouraging innovation in the crypto space, according to Perianne Boring, founder and CEO of The Digital Chamber.
Also read: Ireland Moves to Draft New Crypto Regulations Ahead of EU Crackdown on Money Laundering
Crypto Policy a Decisive Factor for Black Voters
The survey also reveals significant racial divides in how voters prioritize crypto policies and the crypto voting bloc. Two in five Black voters said a candidate’s crypto stance would be important to their voting decision, more than twice the proportion of white voters who shared this view. This could make crypto a critical issue in swing states with diverse voter populations.
Majority Wants Crypto to Be a Priority for the New Government
Across the political spectrum, most respondents indicated that support for the crypto industry and the crypto voting bloc should be at least a medium-level priority for the next president and Congress:
- Over 60% of respondents from both major parties agreed that crypto should be a medium to high-level priority.
This sentiment underscores a growing expectation that the U.S. government needs to provide clear regulatory frameworks that both protect consumers and encourage blockchain innovation.
Partisan Divides on Election Issues
While crypto is gaining traction, it’s not the top concern for most voters. A Pew Research report published last month found that 81% of respondents ranked economic policy as their primary issue. Health care, Supreme Court appointments, and immigration were also leading concerns, particularly among the supporters of key candidates.
- Republican candidate Donald Trump’s supporters prioritized the economy, immigration, and violent crime.
- Democratic candidate Kamala Harris’ supporters were more concerned about health care, Supreme Court appointments, and the economy.
Impact of the Crypto Voting Bloc on the Election
With the 2024 elections slated for November 5, experts predict tight races in key battlegrounds. The crypto voting bloc, representing roughly 26 million Americans, could tip the balance in favor of candidates who advocate for pro-crypto policies.
Boring emphasized that this data should be a “wake-up call for policymakers,” as candidates who ignore the growing importance of crypto issues may miss out on a substantial portion of the electorate.
As the U.S. heads into the 2024 elections, the rise of a pro-crypto voting bloc indicates that digital asset policies are becoming a key concern for millions of voters. With over 16% of the electorate considering a candidate’s stance on crypto as a deciding factor, this issue could play a pivotal role in determining the next president and the composition of Congress.
