The Digital Currency Group (DCG) and The Harris Poll conducted a survey that found that one in five voters in swing states consider cryptocurrencies to be a critical issue in the upcoming 2024 US elections. The report, titled “Crypto Attitudes in Swing States,” suggests that digital assets could play a significant role in determining the outcome of the election. Nearly half of the voters surveyed expressed distrust towards candidates who may interfere with crypto, with 30% more likely to vote for candidates who support crypto. This indicates a growing importance of digital assets in the political landscape.
The survey results come in the midst of a regulatory crackdown on the crypto industry led by the United States Securities and Exchange Commission (SEC) Chair Gary Gensler. Despite the lack of a clear regulatory framework, the SEC has taken legal action against several blockchain firms under U.S. securities law. This has created uncertainty in the industry and increased concerns among voters regarding government interference and overregulation. The survey also revealed that a majority of voters do not believe policymakers fully understand blockchain technology, and many are worried that innovation is being stifled due to excessive regulation.
Blockchain Association CEO Kristin Smith emphasized the significance of digital assets as an emerging issue in the upcoming election. The report indicates that over one quarter of voters consider candidates’ positions on digital assets when making their decisions, highlighting the need for politicians to address this growing concern. Julie Stitzel, Senior Vice President of Policy at DCG, stressed the importance of establishing reasonable regulations that protect consumers without hindering innovation. This suggests that political candidates may benefit from adopting a pro-crypto stance to appeal to voters in swing states.
The report may prove crucial as tensions rise in the lead up to the 2024 presidential election, with voters split between Republican frontrunner Donald Trump, who supports crypto, and Democratic incumbent Joe Biden, who advocates for greater regulation. The findings suggest that candidates will need to address the concerns of the crypto community if they want to gain support in the upcoming election. With digital assets becoming a significant issue for voters, politicians will need to prioritize understanding blockchain technology and crafting effective regulations to support innovation while protecting consumers.
As the election approaches, the influence of cryptocurrencies on voter decision-making is expected to grow, making it imperative for candidates to engage with the crypto community and understand their concerns. The survey results highlight the need for policymakers to strike a balance between regulation and innovation in the crypto industry to ensure its continued growth and development. Ultimately, the stance that candidates take on digital assets could have a significant impact on their success in the upcoming election, underscoring the importance of addressing crypto-related issues in their campaigns.
