Crypto Takes Center Stage: Voters Demand Clarity in 2024 US Elections
Julia Smith
Last updated:
May 7, 2024 16:44 EDT
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2 min read
As the 2024 US presidential race heats up, a new report from Digital Currency Group (DCG) reveals that cryptocurrency has emerged as a key issue for one in five voters in swing states. The “Crypto Attitudes in Swing States” report, produced in collaboration with global consulting firm The Harris Poll, underscores the growing importance of digital assets in the political landscape.
The data shows that an estimated 20% of all voters in battleground states consider crypto a major factor in their voting decisions this year. Additionally, nearly half (48%) of surveyed voters express distrust in candidates who seek to interfere with the crypto industry, while 30% say they are more likely to support pro-crypto politicians.
“The recent poll conducted by Harris and DCG confirms what many in the industry have suspected: digital assets have emerged as a significant issue in the upcoming election,” said Blockchain Association CEO Kristin Smith. “Additionally, over one quarter (26%) of voters indicate that they are actively weighing political candidates’ positions on digital assets when making their decisions.”
The findings come amidst a regulatory crackdown on the crypto sector, led by United States Securities and Exchange Commission (SEC) Chair Gary Gensler. Under Gensler’s tenure, the SEC has pursued legal action against various blockchain firms, despite the lack of a clear regulatory framework for the industry.
Voters Seek Balanced Regulation, Not Stifling Innovation
According to the DCG report, most voters believe policymakers do not adequately understand blockchain technology, and more than 50% are concerned that leaders are stifling innovation due to overregulation.
“This data shows crypto is top of mind for voters in swing Senate states and that a pro-crypto position is a net positive for policymakers and candidates,” said Julie Stitzel, Senior Vice President of Policy at DCG. “The poll also underscores a strong desire for policymakers to establish reasonable regulations that protect consumers without stifling innovation.”
As the 2024 presidential election approaches, the crypto community’s concerns could prove crucial. Republican frontrunner Donald Trump has taken a pro-crypto stance, while incumbent Democratic candidate Joe Biden has called for greater regulation in the industry. The DCG report suggests that both candidates may need to address the crypto community’s demands for clarity and balanced regulation to advance in the polls.
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