US Republicans and Democrats buddy up on the potential of crypto

In the United States of America, there are very few social issues that put Democrats and Republicans in agreement. One of them is the future of cryptocurrencies. A poll of Americans from both political camps reveals that in almost equal proportions, Republicans and Democrats see cryptocurrency as the future of finance. The poll also shows other figures that reveal a growing interest in crypto among Americans. This poll comes as the United States is in midterm elections.

Crypto is the future of finance

In an effort to examine how Americans perceive the state of the economy and cryptocurrency, Grayscale Investments, one of the world’s leading cryptocurrency managers, and Harris Poll, a market research firm, conducted a survey of Americans.

The results of this study reveal a sort of unanimity among Americans about the potential of crypto.

Indeed, more than half of Americans surveyed (53%) believe that “cryptocurrencies are the future of finance.” 44% of them are even considering cryptocurrency.

Interestingly, this faith in crypto goes beyond political affiliation. Both Democrats (59%) and Republicans (52%) overwhelmingly believe that crypto is the future of finance.

Another area where Democrats and Republicans are friends: regulation of the crypto ecosystem.

Indeed, 88% of Democrats and 77% of Republicans believe there should be clearer regulation of the cryptocurrency industry.

On the other hand, Americans on both political sides of the aisle are not in favor of increased government oversight of the crypto ecosystem.

In fact, more than four in five Republicans (81%) and Democrats (82%) believe it is important to adopt consumer-focused regulation. For them, it is up to citizens, not the government, to decide how to invest in cryptocurrencies. Authorities should just provide the necessary information and create a regulatory framework that ensures access to cryptocurrency.

This survey reveals the interest of Americans in crypto and investment diversification, believes Michael Sonnenshein, the CEO of Grayscale.

With the country in midterm elections, he calls on policymakers to listen to American voters’ need for a more secure and regulated crypto ecosystem.

Alors que les Américains envisagent leur avenir financier, les décideurs politiques et les régulateurs ont la possibilité de protéger les investisseurs grâce à une plus grande clarté et des conseils réglementaires adaptés.

Michael Sonnenshein, CEO of Grayscale

Other important facts from the survey

The Grayscale/Harris Poll provided further insight into cryptocurrency awareness and adoption in the United States.

The study found that nearly half of Americans are familiar with cryptocurrency (49%).

Younger Americans are even more familiar with cryptomoney. As many as 70% of young people between the ages of 18 and 34 are familiar with crypto.

These numbers reach 62% among Americans in the 35 to 44 age group.

Minorities in the United States are also attached to cryptocurrency. While only 43% of white Americans know about crypto, those numbers are up among black Americans (62%) and Hispanic Americans (60%).

Americans’ attraction to cryptocurrency is primarily driven by the challenging economic environment, the survey informs.

About one-third of black (34 percent) and Hispanic (32 percent) Americans, as well as those under 45 (37 percent), say inflation and the current economic climate have made them more interested in cryptocurrency.

The content of the survey and the timing of the release of its results are perfect for U.S. policymakers. Indeed, the survey results are being released in the midst of the midterm elections. 37% say they are looking at candidates’ policy positions on cryptocurrency before voting. U.S. politicians know what to do to rake in the electorate for the rest of the term! Despite FTX’s setbacks, adoption continues.