As an analyst with a background in technology and finance, I find the growing interest in crypto among U.S. voters during this election cycle to be an intriguing development. Based on the data from Digital Currency Group’s (DCG) survey of registered voters, it appears that while only a small percentage of voters currently hold crypto exposure or feel knowledgeable about the asset class, a significant number are eager to hear more about it from their candidates.
The discussion surrounding cryptocurrencies has gained significant attention in the United States presidential race this year, as numerous voters express eagerness to learn about the candidates’ perspectives on this asset class.
- Per a Digital Currency Group (DCG) survey of 1201 registered voters conducted last month, about one in five voters view crypto as a major issue in the 2024 election.
- Roughly 40% of voters said they want their candidates to talk more about crypto, with most respondents agreeing that crypto regulation needed an “overhaul.”
- The interest is even though only 14% of voters said they have crypto exposure, and 69% said they don’t yet feel knowledgeable about the asset class.
- “Most voters do not trust elected officials to understand innovative technology like crypto, and more than half are concerned about policymakers stifling innovation via overregulation,” DCG’s report stated.
- Policymakers are currently in a partisan political deadlock over crypto. Democrats want strict industry rules to protect consumers like those in the existing banking system. By contrast, Republicans seek tailor-made regulations with a lighter touch to avoid driving the industry offshore.
- Republican candidate Donald Trump has recently come out in support of the crypto industry, despite taking a hard-line stance against Bitcoin in the past.
- Republicans passed a resolution in Congress this week to nullify SAB 121, a piece of accounting guidance backed by the Democrat-led White House preventing banks from providing crypto asset custody services.
- DCG’s survey mentioned that 50% of respondents said they’d be more likely to buy crypto if it was offered by an established, regulated firm.
- The survey’s respondents included voters in swing states, including n Michigan, Nevada, Ohio, Montana, Pennsylvania, and Arizona
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2024-05-12 14:36