Crypto Emerges as Key Concern for 20% of Voters in 2024 US Elections, States Digital Currency Group
According to a report released by Digital Currency Group (DCG) in collaboration with The Harris Poll, one in five voters in crucial swing states believe that cryptocurrencies will play a significant role in the 2024 US elections, which is currently being contested by Donald Trump and Joe Biden.
The report, titled “Crypto Attitudes in Swing States,” highlights the growing importance of digital assets in this year’s elections. Approximately 20% of voters in swing states consider crypto to be a major issue when deciding on their vote.
Furthermore, the survey revealed that 48% of respondents expressed distrust towards candidates who may interfere with crypto, while 30% stated that they are more likely to vote for politicians who support cryptocurrencies.
Kristin Smith, the CEO of the Blockchain Association, commented on the poll results, stating, “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. Additionally, over one quarter (26%) of voters indicate that they are actively weighing political candidates’ positions on digital assets when making their decisions.”
The survey findings come in the wake of regulatory actions taken by Gary Gensler, the Chair of the United States Securities and Exchange Commission (SEC), against various blockchain firms. Despite lacking a clear regulatory framework for the crypto sector, the SEC has filed lawsuits based on US securities law.
The lack of effective legislation concerning crypto assets in the US has resulted in political gridlock. DCG’s report reveals that most voters believe policymakers have insufficient understanding of blockchain technology, and over 50% are concerned that excessive regulation is stifling innovation.
Julie Stitzel, Senior Vice President of Policy at DCG, emphasized the significance of the report, stating, “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. The poll also underscores a strong desire for policymakers to establish reasonable regulations that protect consumers without stifling innovation.”
As tensions rise during the 2024 presidential election, with voters nearly evenly split between the two candidates, DCG’s report may prove crucial. Republican frontrunner Donald Trump has taken a pro-crypto stance, while Democratic candidate Joe Biden has advocated for greater regulation in the industry. To gain support from the crypto community, both candidates may need to address these concerns.
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