Voters Weigh Candidates’ Crypto Positions as Midterms Approach: Poll

More than a third (37%) of registered voters are weighing candidates’ policy positions on cryptocurrency before casting their vote, while 81% agree “clearer” cryptocurrency industry regulation is needed, including 88% of Democrats and 77% of Republicans, a new national Harris Poll has found.

The poll, commissioned by Grayscale Investments, examined how Americans view the state of the economy and cryptocurrency against the backdrop of the 2022 midterm election.

The survey polled registered voters, of which 89% plan to cast a ballot.

The poll also found that nearly two in five (39%) see the U.S. as behind other countries in creating a regulatory environment that makes it easy or safe for anyone to buy or trade cryptocurrency.

“More than four in five of both Republicans (81%) and Democrats (82%) feel it is important to take a consumer-first approach to regulation — allowing consumers (not the government) to decide how to invest in cryptocurrencies by providing necessary information about various products, while creating a regulatory framework that ensures anyone can access cryptocurrency (80% among both Republicans and Democrats),” Grayscale said in a statement.

The poll surveyed 2,029 adults aged 18 and older and was conducted online within the United States between Oct. 6-11.

More than half of Americans surveyed (53%) agree that “cryptocurrencies are the future of finance,” including 59% of Democrats and 52% of Republicans, with 44% of Americans noting that they expect to have crypto as part of their investment portfolio in the future, Grayscale said.

“As we approach the midterm election, U.S. voters are considering the intersection of cryptocurrency, traditional finance, and the state of the economy,” Grayscale CEO Michael Sonnenshein said in the statement. “This survey reinforces that crypto continues to generate diverse, mainstream investor interest and engagement. As Americans consider their financial future, policymakers and regulators have an opportunity to protect investors through greater regulatory clarity and guidance, while allowing market participants, like financial advisors, to enable access to well-informed crypto offerings.”

The poll found that nearly half of Americans are familiar with cryptocurrency (49%), and familiarity rises among younger investors, including 70% of those aged 18-34 and 62% of those aged 35-44. Familiarity, the poll states, is also higher among minority groups, including 60% of Black and 62% of Hispanic Americans, compared with 43% of white Americans.

About one-third of Black (34%) and Hispanic (32%) Americans, as well as those under 45 years old (37%), say inflation and the current economic climate have made them more interested in cryptocurrency, according to the poll’s results, Grayscale noted in a release.

Nearly one-third of Black (30%) and Hispanic (32%) Americans, as well as those under 45 years old (33%), already own cryptocurrency.

Among those who have invested in cryptocurrency, “only one quarter (25%) invested due to a recommendation from a financial advisor compared to 41% who read, saw, or heard something that piqued their curiosity, and 37% who received a recommendation from a friend or family member,” Grayscale said in a statement.