US presidential vote to be impacted by crypto views, report finds

Gemini's survey reveals that crypto has become a significant campaign issue in the upcoming US presidential election.

Almost three in four cryptocurrency owners say their vote for US president in November will be affected by a candidate’s crypto stance, according to a report that was released Friday.

"For the first time in United States history, crypto has become a significant campaign issue in a presidential election," US-based crypto exchange and custodian bank firm Gemini said in its 2024 State of Crypto survey.

It showed that more than one in five Americans, or 21%, currently own cryptocurrency, and among those who own, the vast majority, or 73%, plan to consider a candidate's stance on cryptocurrencies when they vote for the next president.

More than one-third, or 37%, said a candidate’s position on cryptocurrencies would have "a significant impact" on their vote for president.

While 38% of Americans who do not own cryptocurrencies said that concerns about laws have discouraged them from getting started, 47% agreed that the US needs more government regulation in the crypto market.

And, 41% of non-owners agree there is legal uncertainty around using cryptocurrency, according to the survey.

Among crypto owners, 18% see cryptocurrencies as an alternative to government currencies controlled by a central bank and the same percentage of crypto owners think more government oversight of the crypto industry will be positive since it will protect consumers from bad actors.

In addition, 41% of crypto owners said that requiring crypto exchanges to comply with strict laws would increase trust in the crypto industry.

The survey was conducted from May 23 - June 28 with 1,200 Americans by the Data Driven Consulting Group on behalf of Gemini.