A recent study by the blockchain technology firm ConsenSys highlights the significant role that pro-crypto voters will play in influencing regulatory policies as the 2024 US presidential election approaches.
In light of the ongoing scrutiny from the US Securities and Exchange Commission (SEC), the survey offers valuable insights into voter attitudes and preferences concerning former President Donald Trump and current Vice President Kamala Harris.
The Impact of Crypto Owners on Election Results
According to the survey, 92% of cryptocurrency owners plan to vote in the upcoming election, demonstrating the considerable influence that digital asset voters may have on post-election policy decisions occurring in less than two months.
Joe Lubin, CEO and Founder of ConsenSys and Co-Founder of Ethereum, stressed the importance of regulatory clarity in the cryptocurrency space, stating, “There’s a misconception that the crypto sector opposes regulation, but that’s simply not the case.”
The survey, which collected responses from 1,664 registered voters across the nation as well as additional participants in key states like Pennsylvania, Michigan, Wisconsin, and Texas, unveiled several noteworthy trends.
Around 19% of US voters currently hold digital assets, with Bitcoin (BTC) being the preferred cryptocurrency among participants. Furthermore, one in three voters express a readiness to invest in cryptocurrency in the upcoming year.
Significantly, the survey indicated that 40% of voters would consider crossing party lines if a candidate supports pro-crypto policies, providing a valuable opportunity for both former President Trump and Vice President Harris to engage with this emerging electorate.
However, one crucial finding reveals that 56% of respondents are enthusiastic about Trump’s backing of the digital asset industry, with a noteworthy 54% feeling that Kamala Harris must clarify her position on the matter.
This sentiment persists despite Harris’ recent statements promising to foster the development of technology sectors, including artificial intelligence (AI) and digital assets, should she be elected president, which has led voters to lean towards the former President’s proposals.
A substantial 40% of voters believe that the US government is falling short in supporting the sector’s growth. Respondents identified various areas for improvement, such as enhancing consumer protections, offering clearer regulatory guidance, simplifying user experiences with web3 platforms, and fostering greater transparency within the industry.
Call for Action from Both Parties to Address Voter Concerns
As the 2024 election approaches, the survey highlights that the emerging crypto voter demographic represents a “dynamic and engaged” group advocating for the advancement and security of digital assets.
Dritan Nesho, Founder and CEO of HarrisX, remarked on the growing number of crypto-driven voters, stating, “In every state surveyed, there are now more crypto-influenced voters than the margin of victory from the last presidential election.”
This suggests that both political parties have a compelling reason to address the concerns of cryptocurrency voters, especially since nearly half of respondents deem a candidate’s pro-digital asset position as critical for securing their vote.
Featured image from DALL-E, chart from TradingView.com
