A recent report from Digital Currency Group (DCG) and The Harris Poll revealed that one in five voters in key swing states believe that cryptocurrencies will be a critical issue in the 2024 US elections. The report, titled “Crypto Attitudes in Swing States,” suggests that digital assets could play a major role in this year’s elections. Nearly 20% of voters in swing states view crypto as a major issue that will influence their decision on who to vote for.
In addition to the 20% of voters who see cryptocurrencies as a key issue, almost half of the voters surveyed (48%) expressed distrust of candidates who might interfere with crypto, while 30% said they are more likely to vote for politicians who support cryptocurrencies. The Blockchain Association CEO, Kristin Smith, commented on the findings saying that digital assets have indeed become a significant issue in the upcoming election.
The survey results come at a time when the US Securities and Exchange Commission (SEC) under Chair Gary Gensler has been cracking down on the crypto industry. Despite this, there is still a lack of clear regulatory framework for the sector, and U.S. lawmakers have not been effective in passing laws regulating crypto assets. The survey also found that a majority of voters believe policymakers do not understand blockchain technology, and over 50% are concerned that leaders are stifling innovation through overregulation.
Julie Stitzel, Senior Vice President of Policy at DCG, highlighted the importance of establishing reasonable regulations that protect consumers without stifling innovation in the crypto industry. The report indicates that a pro-crypto stance could be beneficial for policymakers and candidates in swing states. With tensions rising over the 2024 presidential election, where voters are nearly evenly split between Donald Trump and Joe Biden, it will be important for candidates to address the concerns of the crypto community if they want to advance in the polls.
The findings from DCG’s report underscore a strong desire among voters in swing states for policymakers to have a better understanding of digital assets and to establish regulations that promote innovation. Republican frontrunner Donald Trump has taken a pro-crypto stance, while Democratic candidate Joe Biden has called for more regulation in the industry. If either candidate wants to gain support from voters in swing states, addressing the concerns surrounding cryptocurrencies will likely be essential.
As digital assets continue to garner attention in the political landscape, it is evident that cryptocurrencies will be a significant issue in the upcoming US elections. With a growing number of voters in swing states viewing crypto as a critical factor in their decision-making process, political candidates will need to pay attention to the concerns and preferences of the crypto community if they want to secure their support in the 2024 election.
