Crypto now important to 49% of US voters across both parties Crypto now important to 49% of US voters across both parties
US voters are divided on who should regulate the emerging industry among the federal agencies.
2 min read
Updated: Oct. 2, 2024 at 2:06 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
A recent survey by Consensys and HarrisX reveals that nearly half of US voters support pro-crypto policies as a significant factor in the upcoming elections.
According to the report, 49% of surveyed voters view a pro-crypto stance as an important issue, and 13% of respondents are likely to cross party lines for a candidate favoring crypto policies.
Bill Hughes, Consensys’ Director of Global Regulatory Matters, noted that the results showed how crypto has become an important issue for US voters. He stated:
“You’re seeing the Presidential campaigns realize that Pro-crypto policies aren’t just smart for America, they’re smart electoral politics. And we are seeing more House and Senate candidates gravitate towards this issue as they realize they need to be educated and forward thinking, because that is what the electorate expects.”
The survey polled over 1,600 registered voters and claimed a 2.4% margin of error.
Pro-crypto voters
Among crypto owners, support for pro-crypto candidates spikes to 85%, with 92% planning to vote in the next election. This highlights crypto owners as a crucial voting group in the impending November elections.
Further, respondents also stressed the need for clearer crypto policies to ensure regulatory transparency.
Notably, 56% of participants back Donald Trump‘s pro-crypto position, with a third pledging to vote for him because of it. On the other hand, 54% of voters expect Vice President Kamala Harris to clarify her stance on crypto.
However, voters remain divided on which party to trust with crypto policies, with 35% leaning toward Republicans and 32% favoring Democrats.
Consensys noted that the survey results showed that Americans recognize the importance of maintaining the US at the forefront of the crypto industry. This opens a critical opportunity for either party to capture meaningful votes in what is shaping up to be a tight race between the candidates.
HarrisX CEO Dritan Nesho said that the crypto voting bloc could play a pivotal role in the upcoming elections due to its growing influence. He added:
“The crypto industry is mature and crypto voters are now an important, engaged, and motivated electorate advocating for the protection and growth of digital assets and related innovations.”
Crypto regulations
Meanwhile, the survey reveals a divide among voters over who should regulate the crypto industry, with the US Securities and Exchange Commission (SEC) and the Treasury emerging as the most favored authorities.
According to the survey, 33% of respondents believe the SEC, led by Gary Gensler, is either currently responsible or should be tasked with regulating the industry. Another 26% feel that responsibility lies with the US Treasury.
Additionally, 11% of respondents think the industry is self-regulating, while 7% believe crypto exchanges such as Coinbase and Binance should act as regulators.
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Oluwapelumi Adejumo
Oluwapelumi values Bitcoin's potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
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Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
Consensys
Consensys is a venture production studio and custom software development consultancy building decentralized applications (DApps), enterprise solutions and developer tools for blockchain ecosystems, focused primarily on Ethereum..
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
A businessman, politician, and media personality, Donald John Trump served as the 45th president of the United States from 2017 to 2021.
Kamala Devi Harris (born October 20, 1964) is an American politician and attorney serving as the 49th Vice President of the United States.