More than 20% of Swing State voters strongly rate digital currency policies

The Electoral Impact of Crypto

As the political temperature in the United States heats up ahead of the upcoming elections, cryptocurrency is emerging as a significant topic among voters in key battleground states.

An extensive online survey led by the Digital Currency Group (DCG) highlighted the growing importance of digital currency policies in electoral dialogue, especially in states known for their key role in electoral outcomes.

Voter Sentiment on Crypto: A New Election Battleground

The influence of digital currency in shaping political landscapes is increasingly apparent, as evidenced by the recent survey conducted by The Harris Poll for DCG. From April 4 to April 16, this survey involved 1,201 registered voters in Michigan, Ohio, Montana, Pennsylvania, Nevada and Arizona.

The results indicate that a significant portion of the electorate is in tune with candidates’ stances on cryptocurrencies, with half of respondents stating that a candidate’s stance on digital currency influences their voting decision.

Ohio presents a contrasting picture, with voters showing considerable skepticism toward cryptocurrency. This divergence in voter sentiment highlights the complex perceptions surrounding digital currency in different regions.

However, amid the growing interest, there is a strong call from about 20% to 25% of voters for elected officials to prioritize cryptocurrency regulation and improve investor protection.

This demand is even more pronounced among crypto-positive voters, approximately one-third of whom support focused regulatory efforts.

Furthermore, the survey reveals that around 14% of voters currently own digital currency, while 12% have engaged with it in the past. Homeownership rates peak in Montana.

These statistics reflect the penetration of crypto into Americans’ daily financial transactions and highlight the electoral potential impact of digital currency policies.

The value of the digital currency’s global market cap on the 1-day chart. Source: TOTAL market value in TradingView. with

Political Figures and Crypto Policies

Amidst the scenario of interaction between elections and digital currency, not all political figures are supporters. Senator Elizabeth Warren, a key Democratic figure in the US, She focused her re-election campaign last year on building what she called an “anti-crypto army.”

Warren’s legislative efforts culminated in the introduction of the Digital Asset Anti-Money Laundering Act of 2022 in December, which faced bipartisan opposition.

Warren has committed to reintroducing the bill, with the aim of safeguarding vulnerable populations from the risks associated with digital assets.

Its strategy includes implementing comprehensive anti-money laundering regulations on decentralized finance (DeFi) platforms and private wallets, as well as proposing a ban on digital currency mixers.

Coin Center, a prominent non-profit organization advocating for digital monetary policy, sharply criticized this legislative measure. The organization described the act as “an opportunistic and unconstitutional attack on self-custody, developers, and node operators.” according to Jerry Brito, executive director of Coin Center.

He characterized the bill as the “most serious threat” to the personal freedoms of those in the crypto community.

In the midst of these tensions, Ripple CEO Brad Garlinghouse has been outspoken about the need for unity within the cryptocurrency industry to support pro-crypto candidates in the upcoming 2024 US presidential election.

Last year, Garlinghouse highlighted the need to oppose the current government’s anti-crypto stance, especially with regards to blockchain technology. He advocates endorsing candidates who favor innovation and sensible regulation to ensure the U.S. does not fall behind in the global technology arena.

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Featured image from Unsplash, chart from TradingView

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