Poll: 60% of US Voters Support Legal Crypto Donations to Political Campaigns
US voters have a favorable view of cryptocurrency – yet remain distrustful of their politicians and foreign adversaries that might use the technology.
American voters would want to see the option to donate cryptocurrency to a political candidate legalized.
1,023 registered US voters were surveyed by Clovr in a poll titled “Crypto and Politics: Voter’s Perception of Cryptocurrency and Politics”, with 54% of respondents believing digital assets to be safe enough for political donations. A majority of 60% said crypto and US dollar should be treated the same when it comes to political donations, with only 21% disagreeing.
“The funding of political campaigns in the U.S. has been a controversial and contentious issue for almost 190 years, dating back to the 1829 campaign of President Andrew Jackson,” said Clovr in the published results. “Now, cryptocurrency proponents are waging their own campaigns to allow digital currencies to be accepted and used in political campaigns, but their recent efforts have failed to advance the cause.”
According to the results, an understanding of what crypto assets are seems to correlate with more positive attitudes towards digital assets. 73% of participants who claimed to be knowledgeable about cryptocurrency believed security not to be an issue. On average, Republicans were more keen towards crypto adoption in politics, with 63% of registered GOP respondents agreeing crypto was secure enough to be used for political purposes, compared to 52% of Democrats. Surprisingly, independents — which the survey notes to include ‘libertarian’ voters — were the most suspicious towards crypto, with only 45% of respondents approving of Bitcoin and other alt-coins in politics.
However, most of the voters were concerned with BTC to USD exchange rate volatility, with only 40% of Democrats and 35% of independents believing crypto to be stable enough. The majority of Republicans were more optimistic, with 52% of registered GOP voters answering positively.
The Technology Can be Trusted – But Politicians Cannot
While the majority of respondents had a positive view of the technology, the anonymity of donors and the potential of foreign interference with US elections remains a valid concern for most of the voters. 60% of respondents believed cryptocurrency donations could make such interference more common, including 63% of people who claimed to be knowledgeable on digital assets.
The public was also distrustful of the recipients of such donations, with 62% of respondents believing legal Bitcoin donations would result in increased illegal activity in the US political system.
These views seem to mirror concerns expressed by experts during a recent Congressional hearing of the Subcommittee on Crime and Terrorism. David Murray, the Vice President of the Financial Integrity Network, testified that the anonymity of donors could attract ‘foreign adversaries seeking to thwart campaign finance laws’.
Cryptocurrency donations remain unregulated and undefined by the law in most of the American States. In October of last year, the state of Kansas issued a blanket ban on crypto political donations, arguing cryptocurrency is ‘simply too secretive and untraceable to be allowed as a form of campaign contributions’. Since then, the debate whether Bitcoin and other digital assets can be accepted by political candidates remains controversial within the US.
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