Crypto Enthusiasts: A Growing Political Force in the US
Coinbase has released data that highlights the increasing influence of crypto enthusiasts in US politics. Surveys conducted in key swing states reveal a clear preference for presidential candidates who are supportive of cryptocurrencies and Web3. These swing states play a crucial role in determining election outcomes, making them important battlegrounds for candidates.
Survey Highlights: A Crypto-Friendly Future?
A recent survey conducted by Coinbase reveals that voters in swing states like New Hampshire, Nevada, Ohio, and Pennsylvania are more likely to support presidential candidates who are in favor of cryptocurrencies and Web3. This reflects the growing adoption of digital assets, with a significant percentage of respondents from these states owning cryptocurrency.
The ‘Stand With Crypto’ Campaign: A Year in Review
Coinbase’s “Stand With Crypto” campaign, launched 14 months ago, has been actively lobbying for crypto-friendly legislation. The campaign goes beyond swing states and also focuses on high-volume crypto-ownership states like Arizona, California, Georgia, Illinois, and Wisconsin to shape policies nationwide.
Over 40% of Bitcoin holders in states like Nevada, Ohio, and Pennsylvania use blockchain for cost-effective cross-border money transfers to support their families’ needs. These transactions highlight the immediate utility of crypto in everyday life.
Coinbase is organizing a “Stand with Crypto Day” in Washington, D.C., on September 27 to encourage innovative and accommodating policies for the crypto industry.
Mobilizing the Crypto Majority: Democracy in Action
Coinbase aims to mobilize crypto owners to advocate for clear U.S. legislation. With nearly 90% of Americans wanting financial system reform, it is crucial for the U.S. to modernize its financial regulations to avoid job losses and declining global influence.
The Road Ahead: ‘Financial Innovation and Technology for the 21st Century Act’
The upcoming legislative battles could be influenced by the “Financial Innovation and Technology for the 21st Century Act” (FIT21), which aims to achieve balanced and clear regulation. The bill is making progress and may be voted on in the House this fall.
The future of the financial system and the nation’s governance could be shaped by crypto policies in the upcoming elections.
Hot Take: Crypto Enthusiasts Emerging as a Political Force
Coinbase’s data indicates that crypto enthusiasts are becoming a significant political force in the United States. Swing state surveys show a preference for candidates who support cryptocurrencies, reflecting the growing adoption of digital assets. Coinbase’s “Stand With Crypto” campaign has been instrumental in lobbying for crypto-friendly legislation, not only in swing states but also across high-volume crypto-ownership states. The utility of crypto in everyday life, such as cost-effective cross-border money transfers, further strengthens its case. By mobilizing crypto owners to advocate for clear legislation, Coinbase aims to bring about financial system reform and ensure the US remains competitive globally. The upcoming elections could determine the future of crypto policies and their impact on the nation’s governance.
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