One in five voters in key states believe that cryptocurrencies are a critical issue in the 2024 US elections amidst Donald Trump and Joe Biden’s race for the presidency, according to Digital Currency Group (DCG) Tuesday report.

“Crypto Attitudes in Swing States” report, released in collaboration with global consulting firm The Harris Poll, revealed that digital assets could play a major role in this year’s elections.

Crypto Is A Large Issue In Upcoming US Elections, Digital Currency Group Says

According to the data, an estimated 20% of all voters in swing states say that crypto is a major issue they are considering when deciding their vote this year.

‼️NEW DCG POLL‼️ released today reveals 1 in 5 battleground state voters consider crypto a key issue in 2024 U.S. elections. In a survey conducted with @HarrisPoll, swing state voters call for greater discourse on digital assets from political candidates. (1/4) pic.twitter.com/wdfWOePuUw

— DCG (@DCGco) May 7, 2024

In addition, almost half (48%) of voters surveyed say that they are distrustful of candidates interfering with crypto, while 30% said they are more likely to vote for pro-crypto politicians.

“The recent poll conducted by Harris and DCG confirms what many in the industry have suspected: digital assets have emerged as a significant issue in the upcoming election,” said Blockchain Association CEO Kristin Smith. “Additionally, over one quarter (26%) of voters indicate that they are actively weighing political candidates’ positions on digital assets when making their decisions.”

Voters Concerned Politicians May Stifle Crypto Innovation

The survey results follow a regulatory crackdown on the crypto industry initiated by United States Securities and Exchange Commission (SEC) Chair Gary Gensler.

Under Gensler, the SEC has sued various blockchain firms regarding U.S. securities law despite failing to provide the crypto sector with a clear regulatory framework.

Meanwhile, U.S. lawmakers have failed to pass laws regulating crypto assets effectively, increasing political gridlock.

According to DCG, most voters said they do not believe policymakers adequately understand blockchain technology and more than 50% are concerned that leaders are stifling innovation due to overregulation.

1/ Today, @DCGco released data with @HarrisPoll that explores swing state attitudes toward digital assets and the financial system.

The findings are clear: digital assets have emerged as a significant issue in the upcoming election.https://t.co/qmm81MkrmI

🧵 pic.twitter.com/0jV3iCHdl4

— Blockchain Association (@BlockchainAssn) May 7, 2024

“This data shows crypto is top of mind for voters in swing Senate states and that a pro-crypto position is a net positive for policymakers and candidates,” said Julie Stitzel, Senior Vice President of Policy at DCG. “The poll also underscores a strong desire for policymakers to establish reasonable regulations that protect consumers without stifling innovation.”

DCG’s report may prove critical as tensions mount over the 2024 presidential election, with voters split almost equally between the two purported candidates. 

Republican frontrunner Donald Trump has taken a pro-crypto stance, while incumbent Democratic candidate Joe Biden has called for greater regulation in the industry.

If each candidate wants to advance in the polls, DCG’s report suggests they might need to address the crypto community’s concerns.