Crypto: Influence in US Elections

The power of the cryptocurrency lobby is growing in Washington. A number of US politicians are wondering if taking a favorable stance on digital assets could win them votes. Indeed, as the midterm elections in the United States approach, cryptocurrency voters are quickly becoming a desirable bloc and may be on their way to becoming a political force in future elections. In a previous article, the question of the influence of these voters was addressed. With the approach of the mid-term elections, new figures are surfacing. Without question, the weight of the crypto industry is confirmed and affirmed.

The progress of the crypto lobby in Washington

The “crypto lobby” seems to be growing within the walls of the Capitol. This advocacy takes the form of a plethora of trade associations, political action committees and think tanks. All of these actors actually emerged a short time ago. Such a rollout shows that crypto is a growing player in Washington. The crypto industry has realized that it cannot sit idle while policies regulate digital assets. Politicians realized they could harness the potential of this new type of voter.

A survey, conducted by Global Strategy Group and Fabrizio, Lee & Associates, found that 44% of American voters could be described as “ crypto-voters“, that is, people who own or plan to own digital assets. Additionally, a subset of 17% of these voters already own cryptocurrency, which is “an extremely competitive group of voters. Already in the last election, Democrats and Republicans tried to seduce them in the last election.

Crypto: Massive adoption in the United States

Perianne Boring is founder and CEO of the Chamber of Digital Commerce, a trade association representing blockchain companies. She believes that digital asset policy issues are becoming more popular with traditional voters. The reason is that they align closely with their common values. Any successful technology or network requires adoption and use by society. Thus, it is demand that drives innovation. This is what we see with blockchain and cryptocurrencies: People are the network.

What makes the poll results significant is that there are more voters holding cryptocurrency than a union membership card in some of the most politically defiant states. Indeed, if Democrats and Republicans manage to tap into this new group of voters and address them in the right way, they could have a substantial advantage in the election.
When it comes to partisan preferences, crypto voters trust Democrats (46%) more than Republicans (36%). This could be explained by the fact that holders of digital assets are generally under 40 years old. However, this is a demographic group that generally leans towards the Democrats.

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Sami AYADI avatar
Sami AYADI

To the angelism of the intercessors of the current monetary system, I oppose DeFi, digital assets and the metaverse. Lawyer in Luxembourg, I am interested in cryptocurrency investment funds.

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