Survey: A third of swing-state voters want crypto legalised for payments

USA voting crypto

Approximately a third of voters in swing states want local governments to legalise crypto for payments. London-based polling company Redfield & Wilton Strategies conducted a poll and found the percentage of voters that want state governments to legalise crypto for payments ranges from 27% in Arizona to 42% in Texas. The poll also interviewed voters from California, Florida, Georgia, North Carolina, Ohio, Pennsylvania, Wisconsin, and Virginia. In total, the poll surveyed 9,700 eligible voters between August 20 to 24.

Reportedly, a significant percentage of voters in the ten states said they would support a similar bill to Wyoming, which introduced crypto-friendly legislation. Wyoming passed a bill that allowed citizens to make crypto transactions outside the purview of the Wyoming Transaction Act in 2018. Additionally, this bill exempted crypto transactions from state taxes. Through this bullish change, Wyoming sought to foster investments, attract crypto enthusiasts, and create job opportunities.

Out of the voters that support crypto, HODLers cited the possibility of high returns and personal interest as the primary reasons for their investments in the burgeoning asset class. Through the course of the poll, about 25% of the voters did not have a fixed stance on whether to support or oppose making crypto legal currency either federally or in their states.

When questioned about what they think of the US creating a national dollar-pegged cryptocurrency, the majority of the voters said they would vote against it. 40% of the voter population in Arizona said they would not vote in favour of such a bill. Out of the listed states, only Georgia was divided on this matter, with 27% of the voters showing support for the national digital currency and 27% opposing it.

Education can foster more crypto adoption

While a third of the voters in swing states are willing to support a bill that makes crypto legal, this percentage can increase. Approximately 6 in every ten voters that said they would oppose such a bill cited lacking enough information about crypto as the main reason behind their decision. For instance, most of the voters admitted to only knowing Bitcoin (BTC/USD).

Over 60% of the voters in the ten states said they have never heard of digital assets such as Ethereum (ETH/USD) and Dogecoin (DOGE/USD). Out of the percentage that claimed to know about BTC, about half said they don’t know much about the flagship cryptocurrency. Although voters don’t know much about crypto, only a few voters said they had never heard of crypto before the poll.

This explains why educating voters on crypto could go a long way towards fostering mass adoption. Per Louisa Idel, the Head of Insights at Redfield & Wilton, politicians can sway voters to embrace crypto by campaigning in favour of the nascent sector.

The post Survey: A third of swing-state voters want crypto legalised for payments appeared first on Invezz.

Publication date: 
09/21/2021 - 09:44
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