Ahead of Midterms, Survey Finds Most Voters Want More Crypto Regulations
Just ahead of the midterm elections, a new survey finds that a majority of voters believe additional crypto regulation would be beneficial — reflecting the increasing importance and adoption of the space, despite the headwinds it has faced in the past few months.
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Indeed, a new survey from the Crypto Council on Innovation (CCI) found that 52% of Americans say the crypto space needs more regulation, while 20% say the space already has enough regulation.
In a press release, Cory Gardner, former United States senator and chief strategist of political affairs for the Crypto Council, said, “Ballots are going out across the country — election day is just a few weeks away. This election promises some of the most competitive races in a generation, with many races likely to be decided by narrow margins. The crypto community is ready to make its voice heard in November – those candidates that listen will get their vote.”
Gardner added that voters are echoing what the crypto industry at large has been asking for years: Create clear regulation that protects consumers.
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The survey also found that 45% of voters believe legislators should treat crypto as a serious and valid part of the economy.
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“It’s not surprising that crypto is having what appears to be an increasing impact on elections in the United States,” said Daryl Kelly, founder of LTD.INC. “The industry has grown exponentially in recent years, notably with more and more young people getting involved in everything from NFTs and DeFi to actual trading. As a result, you’re seeing more and more people — that is, actual voters — have their economic futures increasingly tied to this industry.
“And, in turn, this is why you’re seeing more agreement between Republicans and Democrats on the issue of digital assets, including when it comes to regulation. And I think a result of all of this is growing pressure on lawmakers and political candidates to approach regulating crypto from a more productive, pro-innovation stance. It’s truly exciting to see how this is playing out.”
The survey also found that 32% of respondents say it’s valuable for politicians to take positions on cryptocurrencies, while 19% say the politicians’ stances are an important factor in determining their votes for federal, state and local offices.
“Democrats and Republicans don’t tend to agree on many things. But when it comes to digital assets, this is an issue that both parties seem to be finding more agreement on,” said Calanthia Mei, co-founder of Masa Finance. “That’s a good thing.
“The ethos of Web3 is to open the doors to a more inclusive financial system. And so, as more everyday people get exposure to digital assets, I think the calls for friendlier regulation to normalize digital assets in everyday life will grow louder. And, in turn, politicians on both sides of the aisle will increasingly have to take this into account in terms of their platforms and electorates, especially as the younger, more internet-native generations become more involved with Web3.”
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