For the first time, cryptocurrency regulation is emerging as a major topic in the U.S. presidential election.
According to a recent survey by Gemini, a crypto exchange founded by the Winklevoss twins, a significant number of American crypto investors are considering candidates’ stances on digital assets as a factor in their voting decisions.
Gemini’s “Global State of Crypto” report, released on September 10, 2024, provides insight into the growing influence of cryptocurrency issues in American politics.
The survey, conducted online between May 23 and June 28, 2024, gathered responses from 6,000 adults across five countries, including the United States.
The results indicate that 73% of U.S. respondents who currently own cryptocurrency said a candidate’s stance on crypto would affect their vote in the presidential election.
Of these, 37% reported that it would have a “significant impact” on their decision.
This shift suggests that crypto has become more than just a financial topic; it is now a political one.
With nearly three in four crypto holders factoring in candidates’ positions on digital assets, this emerging voter base could play a pivotal role in shaping the outcome of the election.
The survey also highlighted that regulatory uncertainty remains a significant barrier to further crypto adoption.
In 2024, 38% of U.S. respondents cited concerns over unclear regulations as a major deterrent to investing in cryptocurrencies.
This marks a notable increase from 28% in 2022, reflecting growing apprehension among potential and current investors about how future policies could impact their assets.
Interestingly, the report found that the number of Americans without any crypto exposure has declined from 75% in 2022 to 65% in 2024.
Meanwhile, the percentage of past crypto owners—those who previously held but no longer own digital assets—has increased from 5% in 2022 to 14% in 2024.
This indicates a fluctuating interest in crypto, shaped largely by the uncertain regulatory landscape.
For the first time, crypto regulation is being framed as a significant electoral issue in the U.S. presidential race, according to Gemini’s report.
Candidates now face the challenge of crafting policies that appeal to a growing number of voters who are invested in the future of digital assets. As the electorate becomes more diverse and digitally savvy, the political stakes around cryptocurrency are set to rise.
While Gemini’s report points to increasing interest and concern about crypto, other data suggests a more complex picture.
A survey by the U.S. Federal Reserve on Household Economics and Decisionmaking found a decline in reported crypto use among American adults—from 12% in 2021 to 7% in 2023.
This divergence in data highlights how rapidly the crypto landscape can change and how sensitive it is to evolving regulations and public sentiment.
