New Data Reveals the Importance of Pro-Crypto Voters in the Upcoming U.S. Election

Ahead of the 2024 The United States (U.S) presidential election and amidst ongoing regulatory overreach by the U.S. Securities & Exchange Commission (SEC), new data on American voters from non-partisan market research firm, HarrisX shows how important crypto owners and web3 builders are in the upcoming election. 92% of crypto owners plan to vote, signaling the significant impact pro-crypto voters have to shape policy for the future of crypto.

Consensys commissioned the survey as part of ongoing efforts to secure regulatory clarity, not only for web3 builders in the U.S., but for all supports of the crypto industry.

“There’s a myth that the crypto sector doesn’t want regulation, but that’s simply not true. Consensys is an active proponent of much-needed regulatory clarity to enable an industry that serves as the backbone of countless new technologies and innovations to thrive in the United States, “ said Joe Lubin, CEO and Founder of Consensys and Co-Founder of Ethereum. “We’ve been operating under a cloud of uncertainty for too long, and the results of this poll show that crypto is a bipartisan issue, with voters also calling for clarity and a pro-crypto stance.” 

The survey polled a geographically representative sample of 1,664 registered voters nationally, along with an additional sample of 1,512 to 1,774 registered voters in Pennsylvania, Michigan, Wisconsin, and Texas, between September 4th and September 14th, 2024.

“In each state we polled there are today more crypto motivated voters than the last presidential election’s margin of victory“, said Dritan Nesho, Founder and CEO of HarrisX. “The crypto industry is mature and crypto voters are now an important, engaged, and motivated electorate advocating for the protection and growth of digital assets and related innovations.”

What this all points to is that as a web3 builder and crypto owner, you hold more power to influence crypto regulation in the U.S. than you may realize. Download the full report here and keep reading for a breakdown of key insights. 

Key insight #1: The crypto community is an influential, emerging group of young voters that neither party has won over yet 

Survey results show that crypto ownership tends to be dominated by younger individuals who are well-educated, multicultural, and intend to vote. Currently, 19% of U.S. voters own cryptocurrency, with Bitcoin being the most popular asset at 13%. Additionally, one in three voters are considering investing in cryptocurrency within the next year.

Key insight #2: Pro-crypto policies have the power to sway voters and win over the “Crypto Electorate”

Survey results reveal that 40% of voters are up for crossing party lines if a candidate expresses pro-crypto views, while a lesser 27% are not. Almost half (49%) believe it's key for their go-to candidate to be all in on pro-crypto policy.

When it comes to crypto, no party's got it all figured out: survey data reveals that people are still quite torn between trusting Republicans (35%) and Democrats (32%) to handle crypto policies right. While a third (26%) have yet to make up their minds at all, leaving room for either candidate to win over this group. 

A solid majority (56%) are excited by Donald Trump’s thumbs-up to crypto, with a third saying it makes them more likely to tick his name on the ballot.

54% think Kamala Harris needs to spell out her crypto game plan, while 55% like her taking a stance against the current SEC overreach.

Key insight #3: 40% of voters believe the U.S. government isn’t doing enough to grow the cryptocurrency industry 

Data from the report shows 40% of voters believe that the U.S. government isn't doing enough to bolster the cryptocurrency industry, and a majority express similar concerns regarding the government's regulatory actions.

In addition to believing the U.S. government can do more to grow the industry, survey results also revealed that people believe the five factors the industry as a whole can improve that could increase adoption of crypto are: 

1. Enhancing consumer and fraud protections

2. Providing greater access to information about how crypto is regulated

3. Simplifying user experience of web3 apps and software 

4. Clarifying regulations and their implications on developers and end-users

5. Improving transparency across all areas of the industry

Committed to regulatory clarity for web3 builders everywhere

Consensys continues to be committed to ensuring web3 builders in the U.S. and all over the world finally receive the regulatory clarity we deserve to keep building the future of the internet. 

Above all we believe this data shows the power web3 communities hold to influence policymakers this election and truly create the world we want to live in – one where decentralized technologies underpin our digital lives for more transparency and equity. 

We encourage you to read and share the full report and to take part in the #Web3forAll movement you can learn more about here.