CRYPTO STANCE TO INFLUENCE US PRESIDENTIAL ELECTION, SURVEY REVEALS

Sat 27 July 2024:

Nearly 75% of cryptocurrency owners in the US say their vote for president in November will be influenced by a candidate’s position on crypto, according to a report released on Friday.

“For the first time in United States history, crypto has become a significant campaign issue in a presidential election,” stated Gemini, a US-based crypto exchange and custodian bank, in its 2024 State of Crypto survey.

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The survey found that over one in five Americans, or 21%, currently own cryptocurrency. Of these, a substantial 73% plan to consider a candidate’s stance on cryptocurrencies when voting for the next president.

Additionally, 37% of crypto owners said a candidate’s position on cryptocurrencies would “significantly impact” their vote.

Among Americans who do not own cryptocurrencies, 38% cited concerns about laws as a deterrent, while 47% believe the US needs more government regulation in the crypto market. Moreover, 41% of non-owners agree there is legal uncertainty around using cryptocurrency.

Among crypto owners, 18% view cryptocurrencies as an alternative to government-controlled currencies, and an equal percentage think more government oversight would benefit the industry by protecting consumers from bad actors. Furthermore, 41% of crypto owners believe that enforcing strict laws on crypto exchanges would increase trust in the crypto industry.

The survey, conducted from May 23 to June 28 by the Data Driven Consulting Group on behalf of Gemini, included 1,200 Americans.

SOURCE: INDEPENDENT PRESS AND NEWS AGENCIES

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