A recent study conducted by Consensys and HarrisX, published on October 2, shows that crypto-friendly policies may play a crucial role in shaping voting decisions for the upcoming 2024 US presidential election.
With 92% of cryptocurrency owners planning to vote, candidates will need to address crypto issues to appeal to this significant US voter demographic.
49% of US Voters Consider Cryptocurrency Important in the 2024 Election
The study reveals that 49% of US voters consider a candidate’s stance on cryptocurrency important when deciding their vote.
This inclination toward pro-crypto candidates is particularly pronounced, with 27% of respondents more likely to support candidates who advocate for cryptocurrency policies.
Among cryptocurrency owners, 85% favor presidential candidates who support pro-crypto policies, and 92% are committed to voting in the 2024 election.
85% of crypto US voters believe it is important for candidates to support crypto policiesUS voters are 13% more likely to support pro-crypto candidates, a figure that rises to 58% among cryptocurrency owners.
The survey also delves into what voters want from crypto regulation.
Key factors such as improved consumer protections and clearer regulatory frameworks would boost voter confidence in investing in cryptocurrencies.
However, despite the growing interest in cryptocurrency, many US voters across party lines continue to view it as “too risky,” which remains a significant barrier to investment.
Crypto Voters Strongly Support Candidates with Pro-Crypto Policies
Another striking finding from the survey is the apparent gap in education about cryptocurrencies.
Only 17% of voters report a strong understanding of cryptocurrency, and more than half admit to having little to no knowledge.
Less than 10% were able to match crypto terms with their correct definitions in a knowledge test.
As US voters become more informed, their preferences will likely shape the political space.
US Voters Seek Clarity on Crypto Policy in 2024 Election
As the 2024 US presidential election approaches, the Consensys and HarrisX survey shows that US voters are nearly divided on which political party they trust more on cryptocurrency policies.
Republican candidate Donald Trump has openly supported cryptocurrency, criticized regulations imposed by President Biden’s administration, and launched a crypto platform named “World Liberty Financial” with plans for its token.
Meanwhile, Democratic candidate Kamala Harris has recently mentioned her intent to support cryptocurrency and AI.
The survey shows 56% of voters back Trump’s pro-crypto policies, while 55% favor Harris’s stance against restrictive Securities and Exchange Commission (SEC) regulations.
However, neither candidate has established a clear lead as the preferred choice for cryptocurrency issues.
Voters are nearly evenly split, with 35% favoring Republicans and 32% backing Democrats.
Many voters have called for more direct communication from candidates, particularly Kamala Harris, with 54% of respondents stating it is important for her to clarify her views on cryptocurrency.
US voters want Kamala Harris to provide clarity on crypto policyThe survey also reveals interesting state-level trends. In Pennsylvania, Michigan, Wisconsin, and Texas, voters show a slight preference for Republican candidates on crypto policies.
However, in most of these states—except Texas—Democratic candidates could gain more support by embracing pro-crypto policies.
For instance, 38% of voters in Pennsylvania trust Republicans on crypto policies, while 36% trust Democrats.
With so much at stake, it is clear that cryptocurrency is becoming a key factor in how US voters trust and choose their candidates.
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