Bitcoin and crypto become critical factor in US elections: research

A new survey by ConsenSys and HarrisX reveals that nearly half of US voters (49%) consider a pro-crypto stance important when choosing political candidates.

Additionally, 62% are willing to cross party lines for a candidate who supports pro-cryptocurrency policies.

Crypto Regulations and Voter Sentiment

The study also found that 85% of respondents want presidential candidates to take a clear stance on cryptocurrency. The results suggest that any party recognizing this could gain significant votes in a hotly contested race.

Voters also expressed concerns about the current state of crypto regulation, with 44% of respondents believing the Biden administration is not doing enough to support the industry. Additionally, 78% said they would support politicians who focus on protecting users from crypto-related scams.

Joe Lubin, CEO of ConsenSys and co-founder of Ethereum, addressed the study’s findings, saying: “There is a myth that the crypto industry doesn’t want regulation, but that’s simply not not true. » Lubin called for more regulatory clarity, emphasizing that both parties must recognize the importance of crypto as a bipartisan issue. “We have been operating in uncertainty for too long,” he added.

Despite growing interest in digital assets, the study finds that voters are unsure which U.S. regulator currently oversees the sector. Only 15% of respondents correctly identified the Securities and Exchange Commission (SEC) as the regulator, while only 4% named the Commodity Futures Trading Commission (CFTC). 11% of respondents believe the U.S. Treasury Department is responsible, and 11% believe the industry self-regulates.

However, when asked which agencies understand the industry well enough to set crypto policies, 70% said the SEC and 67% favored the CFTC.

Cryptographic knowledge of political figures

The study also examined public perception of U.S. politicians’ understanding of cryptocurrency. Former President Donald Trump is considered the most knowledgeable, with 53% of respondents saying he has enough understanding of the sector to set appropriate policies. That’s significantly higher than the 41% who rated Vice President Kamala Harris positively on the issue and the 36% who said the same for President Joe Biden.

Meanwhile, voters are calling for clearer regulations and stronger fraud and consumer protections to build confidence in cryptocurrency, with these concerns consistent across key battleground states.

Fraud prevention is another top concern among voters of all political stripes, with Democrats and crypto owners pushing for greater transparency. Independents, for their part, favor clearer regulatory guidelines.

Overall, the biggest barrier to investing in cryptocurrencies is the perceived risk. The report suggests voters need reassurance to change their minds.