A recent study has unveiled a significant shift in the political landscape, revealing that cryptocurrency is gaining traction among US voters. The survey, conducted by HarrisX and Consensys, indicates that almost half of US voters (49%) consider a pro-crypto stance crucial for political candidates. This growing sentiment suggests that cryptocurrency is no longer confined to a niche group and is becoming a key issue in the upcoming elections.
The study’s findings highlight a notable bipartisan consensus surrounding cryptocurrency. A staggering 62% of voters expressed willingness to support a candidate from a different political party if they champion pro-crypto policies. This signifies a growing awareness and acceptance of cryptocurrency across the political spectrum, indicating that the party that embraces a proactive stance towards crypto could gain a significant advantage in the electoral landscape.
The survey also sheds light on voters’ expectations regarding the current administration’s approach to cryptocurrency. A significant 44% of respondents believe that the current administration is not doing enough to support the crypto industry. Additionally, a strong majority (78%) expressed their support for politicians who commit to protecting consumers from crypto-related scams. This reflects a growing demand for effective regulation and consumer protection within the crypto space.
Joe Lubin, CEO and co-founder of Consensys and Ethereum, emphasized the need for regulatory clarity, stating, “There’s a myth that the crypto sector doesn’t want regulation, but that’s simply not true. Consensys is an active proponent of much-needed regulatory clarity to enable an industry that serves as the backbone of countless new technologies and innovations to thrive in the United States. We’ve been operating under a cloud of uncertainty for too long, and the results of this poll show that crypto is a bipartisan issue, with voters also calling for clarity and a pro-crypto stance.”
When it comes to determining which US body should regulate the crypto industry, opinions vary. Only a small percentage of respondents (15%) believe the Securities and Exchange Commission (SEC) is currently overseeing the crypto sector, while an even smaller percentage (4%) believe the Commodity Futures Trading Commission (CFTC) is in charge. Interestingly, when asked about the entities best equipped to set appropriate crypto policies, 70% of participants chose the SEC, while 67% picked the CFTC, indicating a general trust in these institutions’ ability to guide the future of crypto regulation.
The study also assessed political figures’ understanding of the crypto industry. Former President Donald Trump received the highest score, with 53% of respondents believing he understands the crypto industry well enough to implement suitable policies. This is significantly higher than the 41% who felt the same about Vice President Kamala Harris. President Joe Biden trails with only 36% of respondents confident in his understanding of the crypto sector.
These findings underscore the increasing significance of cryptocurrency in the political arena, signaling a potential turning point in the relationship between policymakers and the crypto industry. The survey results demonstrate a growing demand for pro-crypto policies, with voters prioritizing candidates who support regulation, consumer protection, and a clear framework for the industry’s growth.
