Survey Reveals Over Half of US Voters Support Legalization of Crypto Donations for Electoral Campaigns

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A survey conducted by blockchain research company Clovr indicated that over 60 percent of U.S. voters are in favor of legalizing cryptocurrency donations for electoral campaigns.

In a recently published study that delved into the general perception of American voters on cryptocurrency and politics, of the 1,023 total respondents, 60 percent believes that accepting cryptocurrency as donations for political campaigns should be legalized, while 21 percent believes otherwise.

As detailed in the survey, 73 percent of respondents polled claiming to be “extremely familiar” with digital currencies do not see any potential security threats with crypto donations, while roughly 25 percent suggested that they would likely donate more if cryptocurrencies were provided as a payment option.

Of the 73 percent claiming to be knowledgeable about digital assets, 27 percent of which are Republicans, while 25 percent and 22 percent were Democrats and Independents, respectively.

Furthermore, results also indicated that while 63 percent of self-identified Republicans and 52 percent of Democrats view cryptocurrency as a secure donation for federal elections, only 45 percent of independent voters share the same opinion, with the majority still remaining skeptical.

As for the digital currency’s financial stability, findings show that 62 percent of voters knowledgeable about cryptos are confident that the asset is stable enough to be used for political purposes, 52 percent of which are Republicans, while 40 percent and 35 percent were Democrats and Independents, respectively.

However, the study also noted a number of factors that can be attributed to the U.S. voters’ apprehension towards crypto donations, among which include the fact that it is currently illegal for federal elections to accept foreign donations.

According to Clovr co-founder Mike Cribari:

“The overall findings are contradictory but intuitive: overwhelming support for crypto as a currency and a technology, countered by an equally unanimous distrust of what people, particularly those in politics, might do with it.”

As he went on underscoring, while there are only a small majority of well-informed voters who opt to donate cryptocurrency, transactions could multiply exponentially, noting that:

“State governments haven’t yet jumped on the cryptocurrency bandwagon, but if the FEC [Federal Election Commission] and other federal agencies expand its use, then history indicates many will follow.”