About one in every three Americans living in swing states including Arizona, Texas, Wisconsin, California, Florida, Georgia, North Carolina, Ohio, Pennsylvania, and Virginia, say they want bitcoin () and other cryptocurrencies to be made legal payment options in their states, according to a report by Newsweek on September 20, 2021.
Americans Want Crypto Legalized
Despite the super volatile nature of bitcoin and other cryptocurrencies, a fresh survey conducted by Redfield & Wilton Strategies, a UK-based polling firm has revealed that a large chunk of Americans would vote to make crypto legal tender in their states if they have the chance to.
Out of the 9,700 eligible voters surveyed in Arizona, California, Florida, Texas, Georgia, Wisconsin, North Carolina, Ohio, Pennsylvania, and Virginia between August 20 to August 24, 2021, about one-third of respondents in each state said they would want crypto to be made a legal tender in their state.
Specifically, 37 percent of respondents in Texas and Wisconsin said they would vote ‘yes’ to a ballot measure aimed at making cryptos legal tender in the next election, while 28 percent of Arizonans also responded in the affirmative, with about a quarter of respondents expressing indifference.
Wyoming-Type Crypto Laws Welcomed
Wyoming has implemented a vast array of amenable cryptocurrency regulations in recent years and it’s currently one of the very few U.S. states where crypto transactions are free of state taxes.
When informed that Wyoming has implemented crypto-friendly legislation, 42 percent of Texans and 25 percent of respondents in Arizona made it clear that they would welcome similar bills in their states.
Central bank digital currencies (CBDCs) are one of the hottest topics in the traditional finance ecosystem at the moment, with a good number of nations, including China, already in the advanced stages of their digital currency projects.
However, 40 percent of voters in Arizona opposed the idea of a digital dollar backed by the Federal Reserve, 27 percent of respondents in Georgia voted against it while another 27 percent said they would support a U.S. CBDC.
The survey also found that the level of cryptocurrency education in the U.S is still very low, as every six in 10 non-crypto holders surveyed, cited the lack of adequate crypto knowledge as their main reason for not investing in cryptoassets.
Commenting on the survey results, Louisa Idel, head of insights at Redfield & Wilton suggested that cryptocurrencies could be an effective election-winning tool for smart politicians.
“If a party wants to catch these receptive voters, it should act Swiftly – not only to beat the other party to the punch but also to preempt legislation that would prove difficult to reverse if enacted,” he said.