Author: Daniel Kuhn, CoinDesk
Translation: Felix, PANews
A survey conducted by the venture capital company Digital Currency Group (DCG) shows that over 20% of voters in several swing states consider cryptocurrency to be a key issue in this year's US election. This poll indicates that cryptocurrency is gradually becoming one of the factors influencing the election, with more and more politicians expressing support or condemnation for cryptocurrency. This is in stark contrast to the previous US election.
Furthermore, cryptocurrency is gradually being taken into consideration by candidates. Former US President Donald Trump has changed his previous critical stance on cryptocurrency, perhaps because he sees the crypto industry as a potential powerful ally (and profitable). Candidate Robert F. Kennedy has also become a staunch supporter of Bitcoin.
Interestingly, according to an online survey commissioned by DCG in early April and conducted by Harris Poll among over 1,000 voters in each state, cryptocurrency seems to be particularly important in several key states including Arizona, Michigan, Montana, Nevada, Ohio, and Pennsylvania. One-third of voters who hold a "positive" view of cryptocurrency believe that politicians should prioritize regulating cryptocurrency.
Julie Stitzel, Senior Vice President of Policy at DCG, stated in a release, "These data indicate that cryptocurrency is a top concern for swing state voters in the Senate, and taking a supportive stance on cryptocurrency is positive for policymakers and candidates." "The survey also emphasizes that voters strongly want to protect consumers without stifling innovation, and decision-makers should formulate reasonable regulations."
At the time of the release of this data, some cryptocurrency companies and influential advocates are increasingly taking the political risks of cryptocurrency seriously. For example, in October last year, potential voters helped raise over $2 million for the non-profit organization Stand With Crypto led by Coinbase, which aims to influence state and federal cryptocurrency policies.
It is reported that super PACs are focusing on eliminating or influencing cryptocurrency skeptics, such as Senator Sherrod Brown. He faces a tough re-election campaign in Ohio. Fairshake may be the largest cryptocurrency super PAC, which has stated that it will invest resources in four Senate races this year: Maryland, Michigan, Montana, and Ohio.
Potential Backlash?
While fighting for one's beliefs is a noble cause, the public often feels disgusted and uneasy about funds flowing into politics. This may be especially true for cryptocurrency after the FTX scandal, where SBF (Sam Bankman-Fried) funded at least one-third of Congress members and contributed funds to national campaigns.
Moreover, no one can guarantee that once politicians are in office, they will act or support what they said during the campaign. Take Gary Gensler, for example, due to his teaching of courses on the crypto industry at MIT, it was expected that he would be a more lenient chairman of the US Securities and Exchange Commission (SEC), but the reality turned out to be different.
So it can only be said that if power can be bought, it can also be sold.
Related reading: "Buying Power" for "Superpower": How do Cryptocurrency "Masters" Influence the US Election?
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