American Voters: Crypto Is the Future of Finance

Crypto Regulation
American Voters: Crypto Is the Future of Finance

According to a recent survey, around a third of eligible American voters will “examine crypto policy positions” while selecting candidates for the 2022 midterm elections.

To find how Americans feel about the current state of the economy and cryptos concerning the upcoming election in the United States in 2022, a new national survey was conducted by Grayscale Investments, a manager of digital currency assets, and the results were released on November 1.

The Grayscale’s Best Features

The online result poll was conducted in the United States between October 6 and November 20, 2022.

The Harris Poll on behalf of Grayscale Investments showed that 52% of Americans (including 59% of Democrats and 51% of Republicans) agreed with the statement that “cryptos are the future of finance,” and that 44% said they planned to include crypto in their investment portfolio in the future.

According to the Grayscale summary, “Voters and policymakers alike have been hearing about cryptocurrency, and it seems they’ve used the opportunity to learn about the asset class.” Despite political differences, the survey indicated that most Republicans and Democrats believe that cryptocurrencies will play a big role in the future of finance.

With Election Day scheduled for November 8, early voting for the American midterm elections has already started in many states. Many concerns, such as abortion, gun control, free and fair elections, and the economy — including cryptocurrency — are bringing many voters to the polls, and the future majority control of the House of Representatives and the Senate is on the line.

Republicans currently have 212 seats in the House, while 220 of those seats are held by Democrats during the current legislative session. Three seats are still open. Elections are taking place for 34 Senate seats and all 435 House seats. Republicans have a chance on November 8 to flip both chambers, which Democrats presently control by a thin margin.

Struggling Economy Generating Interest in Cryptos

American investors may now be more interested in alternatives to the stock market and mutual funds due to the fragile status of the economy currently. According to 25% of Americans, their interest in cryptos had grown due to rising costs and the state of the economy.

According to the survey, acceptance of cryptocurrencies and interest in the asset appears to be related, particularly among younger investors from varied backgrounds.

According to the current economic climate, 34% of people identify as Black, 32% identify as Hispanic, and 37% of people under 45. Fewer than one-third of Americans who identify as Black (30%), Hispanic (32%), or under 45 (33%), respectively, already own cryptocurrency.

Precise Crypto Regulation Get Broad Support

Notably, 37% of respondents said they study the candidates’ positions on cryptocurrencies before casting their ballots. 81% agree that the bitcoin industry needs clearer regulations, including 77% of Republicans and 88% of Democrats.

Eventually, more than 80% of Republicans (81%) and 82% of Democrats agree that adopting a consumer-first regulatory approach is crucial.

This will allow people (rather than the government) to choose how to invest in cryptos by providing relevant information about various products while creating a regulatory framework that ensures anyone can access crypto.

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