A separate poll released Friday by HarrisX found that 47% of registered voters said they would consider crossing party lines to support a candidate who backed crypto regulation legislation — a figure that stands in sharp contrast to new data showing crypto barely moves the needle for most Americans when they head to the polls.
The Lobbying Machine Behind The Legislation
The Politico survey, conducted by polling firm Public First and covering 2,035 US adults, found that only 4% of respondents would factor a candidate’s position on crypto into their voting decision.
Source: Politico
Affordable housing topped the list of issues voters want Congress to address, followed by consumer fraud protection and lower bank fees. Crypto regulation came in last.
That gap between voter priorities and industry muscle is hard to ignore. Crypto lobbies spent more than $130 million during the 2024 elections — more than any other industry — and have already committed $320 million to shape the upcoming November midterms, according to data compiled by researcher Molly White.
Survey results on public opinion regarding whether the US government should formally adopt crypto as a mainstream financial asset. Source: Politico.
In Illinois alone, crypto-aligned PACs have spent over $5.5 million opposing specific congressional candidates this year.
Republican Representative Dusty Johnson acknowledged the disconnect. Most voters don’t think about digital assets, he told Politico, but those who do feel strongly about it. He described it as a high-intensity issue that is slowly growing in public awareness, even if the numbers remain small.
A Public Still Divided On Digital Assets
The survey also captured a broader wariness toward crypto among ordinary Americans. Only 27% said they support or strongly support the US government taking steps to make crypto a mainstream financial asset.
A slightly larger share — 31% — said they oppose or strongly oppose such a move. More than half of respondents said they had never traded crypto and had no plans to do so.
Among the 19% who had actually traded crypto, 7% said a candidate’s stance on the issue would influence their vote. The poll also found that 45% of respondents considered crypto investing a risk not worth taking, even with the promise of high returns. Only 25% disagreed.
Senate Moving On Crypto Regulation This Week
Meanwhile, Congress is pushing ahead. The Senate Banking Committee is set to vote on whether to advance a long-awaited bill that would establish a regulatory framework for the crypto industry.
A version of the bill — known as the Clarity Act — already cleared the House in June. Reports indicate the White House has been involved in negotiations between crypto interests and banking lobbies to shape the final version.
Featured image from Unsplash, chart from TradingView
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