- Eligible voters in the US reveal their stand on cryptocurrencies in new Poll.
- Cryptocurrencies could be used to sway voters in the next US general elections.
37 percent of Texas residents, or roughly 10.8 million people would support legislation to make Cryptocurrency legal for payments in their state according to a new poll by UK-based survey firm Redfield & Wilton Strategies.
Texas, the second-largest state in area and population shared the percentage with Wisconsin, while 28 percent of voters in Arizona also expressed pro-crypto legislation sentiments.
Additionally 42 percent of voters in Texas and 25 percent in Arizona showed support for the introduction of crypto-friendly bills in their states, after finding out the crypto-friendly status in Wyoming.
Since 2018, Wyoming has been continuously passing bills to attract cryptocurrency investors, such as exempting state taxes on cryptocurrency transactions.
The poll also surveyed voters from the largest US state by population California, Florida, Pennsylvania, Georgia, Ohio, North Carolina, and Virginia. The poll surveyed over 9,700 voters between August 20 and 22 in California and 20 and 24 in the rest of the states.
Voters say no to CBDC development
Most of the voters said they would not support the creation of a national cryptocurrency pegged to the dollar, with a whopping 40 percent in Arizona being opposed to the idea. Only voters from Georgia expressed mixed sentiments at 27 percent on both sides.
Additionally, nearly 24 percent of all the voters said they had little or no interest in whether the government would legalize cryptocurrencies, either at the local or national level. Among voters who have invested in cryptocurrencies, majority mentioned high returns and personal interest as the main reasons for their investments.
Crypto education is paramount, and potentially beneficial to politicians
About 60 percent of all voters who don’t own cryptocurrencies said it was due to lack of sufficient information or knowledge. However, majority said they’re familiar with Bitcoin, with less than 25 percent saying they’re knowledgeable while half admitted to knowing very little.
When asked about other cryptocurrencies like Ethereum, Tether or Doge, more than 60 percent of voters across all states said they have never heard of the digital currencies before.
In Georgia and Florida, only 14 and 8 percent of voters respectively said they had not heard of cryptocurrencies before the poll.
According to Louisa Idel head of insights at the polling firm, the data indicates that eligible voters could benefit from more cryptocurrency education. Additionally, cryptocurrency has potential to influence voting trends in the next US generation elections.
For instance, politicians could entice voters by campaigning in support of cryptocurrencies in the next election.
If a party wants to catch these receptive voters, it should act swiftly-not only to beat the other party to the punch but also to preempt legislation that would prove difficult to reverse if enacted.
The political influence of cryptocurrencies peaked in August when the cryptocurrency community pushed their Senators individually to vote for favorable amendments in the Infrastructure Bill.
While the bill passed without two of the suggested amendments, experts have said it will give cryptocurrency lobbyists to influence Congress before the bill is tabled again in the House of Representatives later this year.
The survey concluded that about 33 percent of Swing State voters would support cryptocurrency as legal payment in their state.