Bitcoin regulation is a critical issue for US voters

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An online survey conducted by the Digital Currency Group (DCG) consortium revealed that the issue of bitcoin (BTC) regulation has become a critical issue for US voters. The study, applied to some 1,200 registered voters in the states of Michigan, Ohio, Montana, Pennsylvania, Nevada and Arizona, was intended to explore attitudes towards cryptocurrencies and the financial system of the most undecided states around the United States elections. According to the survey results, 66% of voters doubt that their elected officials (including presidents, senators and governors) understand such innovative technologies like that of cryptocurrencies. In this way, 48% of those consulted distrust the stance towards bitcoin expressed by the candidates and 25% are willing to favor candidates who support the ecosystem. Additionally, statistics indicate that 26% of voters affirm that the issue of cryptocurrencies is very important to them in these next elections; and more than half pay close attention to the candidates' positions regarding the cryptoasset sector.

More than 80% of voters want political officials to understand bitcoin. Source: Digital Currency Group. In that sense, the regulation of bitcoin and the protection of investors have the support of between 20 to 25% of voters, while 55% of those interviewed feel concerned because excessive regulation could stifle the development of the sector in the US.

Consequently, 83% of respondents wants policymakers to understand cryptocurrencies before regulating them. The data also shows more than 21% of voters considering the issue of cryptocurrencies It is key in the elections scheduled for next November, with 90% of those who are in favor of the sector being willing to vote. The results of this survey show the relevance acquired by cryptocurrencies for the US public. They also show the role they can play in an election where President Joe Biden aspires to be re-elected and former President Donald Trump aspires to return to power. In this way, the high interest in bitcoin, shown by voters in the most undecided states, may prove crucial. Above all, in a context where the Biden government is advancing in a kind of regulatory onslaught against cryptocurrencies. As BitcoinDynamic has reported, since last year government agencies such as the SEC and the State Department have filed a series of lawsuits and accusations against companies and figures in the ecosystem, among which Coinbase and Binance exchanges stand out, along with bitcoin mixer developers. The above occurs while Trump makes a new political move and speaks out in favor of the ecosystem, criticizing Biden's actions. The former president and candidate, who now affirms his love for cryptocurrencies and NFTs, also takes the opportunity to confirm that he accepts donations in digital assets to finance his campaign. He does this after years of badmouthing the sector and openly associating it with criminal activities.