California voters welcome pro-crypto candidates in 2024: Coinbase
US-based cryptocurrency exchange Coinbase has predicted that crypto-oriented voters in California will play a “significant role” in the ownership and opinions of digital asset-related policies in the 2024 elections.
In a Feb. 9 blog post, Coinbase cited data from business intelligence firm Morning Consult, which indicated that 27% of Californians — roughly 8.2 million people — own cryptocurrency. A majority of crypto holders in the US state – 78% – say policymakers should support “new, innovative and disruptive technologies”, and many would vote to do so.
“California crypto holders report that they are more likely to support candidates who hold pro-crypto and blockchain positions,” Coinbase said. “4 in 5 CA crypto owners say they are more likely to support candidates who support the US crypto industry as an entrepreneur and a source of US geopolitical strength.
Super Tuesday is just one month away, and with 27% of California adults owning crypto, they will have a big role in determining the future of crypto.
Read more about why California's crypto constituency matters → pic.twitter.com/qZ1qZNSt4a
— Coinbase ️ (@coinbase) February 9, 2024
According to Coinbase, 51 percent of U.S. voters—including Gen Z and Millennials at the national level—say they are likely to support crypto-friendly candidates in the 2024 elections. Potential presidential candidates for both major political parties – US President Joe Biden and Donald Trump – have already been on the ballot in the South Carolina and New Hampshire primaries.
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Coinbase's data echoed a survey conducted by the Crypto Council for Innovation in January. A crypto advocacy group suggests that the majority of US voters will vote for lawmakers who want to “write clear laws for cryptocurrency.”
Coinbase added:
“Congress and other policymakers should note that crypto voters are engaged in their jurisdictions and require regulations, not an unpredictable executive order.”
Digital assets have been a campaign issue for the Republican Party's US presidential candidates. Florida Governor Ron DeSantis came out against central bank digital currencies (CBDCs) in the United States before dropping out of the race. Trump has embraced the issue, saying he will never allow a digital dollar if he wins re-election.
Magazine: Legislators' fear and skepticism fuel proposed crypto regulations in the US.
