Bitrabo Editorial
A recent poll by ConsenSys, a blockchain software firm, highlights the pivotal role of pro-crypto voters in influencing regulatory decisions as the 2024 US presidential election approaches.
In the wake of increased scrutiny by the US Securities and Exchange Commission (SEC), the survey sheds light on voter attitudes, particularly in relation to former President Donald Trump and current Vice President Kamala Harris.
Crypto Voters’ Potential Impact on the Election
The study indicates that 92% of crypto investors plan to cast their votes in the upcoming election, underscoring their potential impact on policy-making in the approaching months.
Joe Lubin, CEO of ConsenSys and a co-founder of Ethereum, pointed out the need for clear regulations in the crypto market, stating, “People often think the crypto community resists regulation, but that’s not accurate.”
The research included responses from 1,664 registered voters nationally and many from critical states such as Pennsylvania, Michigan, Wisconsin, and Texas, revealing several significant patterns.
Currently, about 19% of US voters possess digital assets, with Bitcoin (BTC) being the most popular among them. Additionally, one-third of respondents are open to investing in cryptocurrencies over the next year.
The survey revealed that 40% of voters are willing to cross party lines if a candidate supports pro-crypto policies, which presents an opportunity for both Trump and Harris to gain traction with this emerging voter base.
Importantly, 56% of respondents are favorable towards Trump’s endorsement of the crypto industry, while 54% believe Harris needs to better explain her position on this topic. This comes in light of Harris’ recent commitment to encouraging the development of tech sectors, including digital assets, should she win the presidency, which seems to be leading voters to favor Trump’s proposals instead.
A significant 40% of voters feel the government should do more to foster the industry’s advancement. They highlighted areas for improvement such as better consumer protection, clearer regulatory communications, more user-friendly web3 applications, and increased industry transparency.
Call for Addressing Voter Issues by Both Parties
As the 2024 election nears, the poll indicates that the rising crypto voter base is “powerful and engaged” in advocating for digital asset growth and protection.
Dritan Nesho, the Founder and CEO of HarrisX, commented on the increasing number of crypto-focused voters, noting, “In every state we surveyed, there are now more crypto-concerned voters than the margin of victory in the last presidential election.”
This highlights the incentive for both political parties to heed the concerns of crypto voters, as nearly half of the respondents consider a candidate’s pro-digital asset position essential to securing their support.
Featured image from DALL-E, chart from TradingView.com