New data reveals the importance of crypto-friendly voters in the upcoming US elections
A new survey shows that 92% of crypto owners plan to vote, indicating that crypto-friendly voters have the potential to play a significant role in shaping web3 policies in the upcoming US elections.
As the 2024 US presidential election approaches, and against the backdrop of the US Securities and Exchange Commission (SEC) continuing to over-regulate, new data from the non-partisan market research firm HarrisX reveals the importance of crypto owners and web3 builders in the upcoming election. 92% of crypto owners plan to vote, indicating that crypto-friendly voters have a substantial influence in shaping the future of crypto policies.
This survey was commissioned by ConsenSys as part of ongoing efforts to advocate for regulatory transparency for web3 builders and all supporters of the crypto industry in the US.
"There is a misconception that the crypto industry doesn't want regulation, but that's simply not true. ConsenSys actively supports the urgent need for regulatory transparency to allow this industry, which underpins countless new technologies and innovations, to thrive in the US," said Joe Lubin, CEO and Founder of ConsenSys, and co-founder of Ethereum. "We've operated in the shadows of uncertainty for too long, and these poll results show that crypto issues are a bipartisan concern, with voters also calling for clear regulatory policies and pro-crypto stances."
The survey sampled 1,664 registered voters nationwide with geographic representation, and an additional 1,512 to 1,774 registered voters in Pennsylvania, Michigan, Wisconsin, and Texas, conducted from September 4 to September 14, 2024.
"In each of the states we surveyed, the number of voters currently supporting crypto exceeds the winning margin from the last presidential election," said Dritan Nesho, Founder and CEO of HarrisX. "The crypto industry has matured, and crypto voters are now an important, engaged, and energized voter bloc advocating for the protection and development of digital assets and related innovations."
This all suggests that as a web3 builder and crypto owner, your power to influence US crypto regulation is greater than you might think. Please download the full report here to continue reading for detailed analysis of key insights.
Key Insight #1: The crypto community is an emerging, influential, and young voter bloc that has not been won over by either party
The survey findings show that crypto owners are typically well-educated young people with diverse cultural backgrounds and high voter intent. Currently, 19% of US voters own crypto, with Bitcoin being the most popular asset at 13%. Additionally, one in three voters is considering investing in crypto in the next year.
Key Insight #2: Pro-crypto policies can sway voters and win the "crypto vote"
The survey results show that 40% of voters are willing to cross party lines if a candidate expresses support for crypto, while only 27% say they would not. Nearly half (49%) of voters believe that supporting crypto policies is a key attribute they look for in a candidate they support.
On crypto issues, no party has it fully figured out: the data shows people are still quite conflicted in trusting the Republicans (35%) and Democrats (32%) on crypto policy. About a third (26%) of voters remain undecided, leaving room for any candidate to win over this group.
Most voters (56%) are excited about Donald Trump's support for crypto, with a third saying it makes them more likely to vote for him.
54% of voters believe Kamala Harris needs to clarify her crypto plans, while 55% agree with her stance on the current over-regulation by the SEC.
Key Insight #3: 40% of voters believe the US government is not doing enough to promote the crypto industry
The report data shows that 40% of voters believe the US government's efforts to promote the crypto industry are insufficient, and most express similar concerns about the government's regulatory actions.
In addition to believing the US government could do more to drive industry growth, the survey results also indicate that people see five key areas the industry can improve to increase crypto adoption:
- Strengthen consumer and anti-fraud protections
- Provide more information on how crypto is regulated
- Simplify the user experience of web3 apps and software
- Clarify regulations and their impact on developers and end-users
- Increase transparency across the industry
Committed to Regulatory Transparency for Web3 Builders Globally
ConsenSys continues to work to ensure web3 builders in the US and globally ultimately receive the regulatory transparency we deserve to continue building the future of the internet.
Most importantly, we believe these data demonstrate the power of the web3 community to influence policymakers in this election, to truly create the world we want to live in - one where decentralized technologies underpin our digital lives, enabling more transparency and fairness.
