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Crypto Is A Major Election Issue For 20% Of Voters: DCG Survey

Summary:
Crypto is emerging as a hot topic in the U.S. presidential election this year, with many voters looking forward to hearing their candidates takes on the asset class. Per a Digital Currency Group (DCG) survey of 1201 registered voters conducted last month, about one in five voters view crypto as a major issue in the 2024 election. Roughly 40% of voters said they want their candidates to talk more about crypto, with most respondents agreeing that crypto regulation needed an “overhaul.” The interest is even though only 14% of voters said they have crypto exposure, and 69% said they don’t yet feel knowledgeable about the asset class. “Most voters do not trust elected officials to understand innovative technology like crypto, and more than half are concerned about policymakers

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Crypto is emerging as a hot topic in the U.S. presidential election this year, with many voters looking forward to hearing their candidates takes on the asset class.

  • Per a Digital Currency Group (DCG) survey of 1201 registered voters conducted last month, about one in five voters view crypto as a major issue in the 2024 election.
  • Roughly 40% of voters said they want their candidates to talk more about crypto, with most respondents agreeing that crypto regulation needed an “overhaul.”
  • The interest is even though only 14% of voters said they have crypto exposure, and 69% said they don’t yet feel knowledgeable about the asset class.
  • “Most voters do not trust elected officials to understand innovative technology like crypto, and more than half are concerned about policymakers stifling innovation via overregulation,” DCG’s report stated.
  • Policymakers are currently in a partisan political deadlock over crypto. Democrats want strict industry rules to protect consumers like those in the existing banking system. By contrast, Republicans seek tailor-made regulations with a lighter touch to avoid driving the industry offshore.
  • Republican candidate Donald Trump has recently come out in support of the crypto industry, despite taking a hard-line stance against Bitcoin in the past.
  • Republicans passed a resolution in Congress this week to nullify SAB 121, a piece of accounting guidance backed by the Democrat-led White House preventing banks from providing crypto asset custody services.
  • DCG’s survey mentioned that 50% of respondents said they’d be more likely to buy crypto if it was offered by an established, regulated firm.
  • The survey’s respondents included voters in swing states, including n Michigan, Nevada, Ohio, Montana, Pennsylvania, and Arizona

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