Crypto Candidates In 2024 And Beyond Policy: Creating Policy and Political Power

The 2024 election cycle has brought an unexpected issue to the forefront of US politics: cryptocurrency. Both major political parties are dealing with digital assets, blockchain technology, and regulatory frameworks, as crypto has grown from an online investment to a mainstream topic. Candidates are already courting the crypto voter, recognizing the widespread appeal and economic potential of digital assets.

The new popularity of Crypto is boosted by recent steps from major financial institutions such as BlackRock and Fidelity, which have entered the Bitcoin ETF market, lending more legitimacy to crypto assets. Political action committees such as Stand With Crypto Alliance and Fairshake Super PAC are also pouring resources into pro-crypto lobbyists, positioning cryptocurrency as a bipartisan policy issue. As political candidates and parties seek to gain traction with voters, cryptocurrency has proven to be a compelling, if divisive, issue that speaks to young, tech-savvy and financial industry professionals alike. the same way.

In this election, the appeal of crypto in key swing states could affect close races as candidates respond to a unique combination of electoral interest and economic opportunity.

The Rise of the Crypto Voter

Poll data from industry leaders such as Digital Currency Group (DCG), Paradigm, and Stand With Crypto highlights the unique crypto voter population. This emerging constituency becomes a powerful influence in electoral decisions.

Stand With Crypto reports that 71% of self-identified crypto voters across political parties vote for candidates who support transparent and fair crypto laws. This figure highlights the growing confusion over unclear and restrictive US crypto policies. Furthermore, the DCG survey shows that 62% of young voters (aged 18-34) are “very likely” to support a candidate who advocates simple crypto policies, as the number This demographic considers digital assets essential for financial inclusion, which provides an alternative. to traditional financial systems.

Crypto is also gaining strength in states like Georgia, Pennsylvania and Arizona, where Paradigm polls found that 28% of likely voters consider the candidate’s stance on crypto important. Stand with Crypto data also highlights the importance of crypto for minority voters in changing environments; for example, 23% of Black and Latino voters rate pro-crypto policies as most important, highlighting the potential of digital assets to expand access to financial services in underserved communities.

Polling reveals that mistrust of traditional financial institutions is a key factor for crypto interest among voters. DCG reports that 58% of respondents cited a lack of trust in banks and financial institutions as the main reason for examining digital assets, reflecting a broader view of decentralized finance (DeFi) and blockchain. and other methods that work better than traditional banking methods.

Interest in crypto covers politics, with 43% of Republicans and 39% of Democrats favoring “reasonable regulation” to encourage innovation without stifling growth. Despite bipartisan appeals, support for crypto-friendly candidates leans slightly Democratic, with 54% favoring candidates like Vice President Harris, who emphasizes crypto’s ability to promote economic development for people in the middle. For most crypto options, the investment is always central; approximately 75% view digital assets as a way to create economic opportunity, especially for communities that have been marginalized by traditional funds.

These findings show how the role of crypto in the 2024 elections is weak, affecting young and vulnerable patients. Voters who are aware of these trends are more likely to use balanced and informed management strategies.

The Role of Money in Politics

Money has long been a double-edged sword in American politics. Donations help increase the candidate’s platform but can also create imbalances. Funding helps candidates reach more voters and cover travel, event and advertising expenses. However, donations from wealthy interests can change the playing field, creating the impression that policies favor the elite over the public. This flow of cryptocurrency, especially from PACs and industry-focused projects, adds another layer of complexity, as blockchain-based prediction markets like Polymarket allow users to gauge sentiment. of the public about the political outcome. While these decentralized markets provide real-time data, they also present regulatory challenges and concerns about transparency.

Influence of Prediction Markets

Blockchain-based prediction markets like Polymarket offer a unique view of public opinion on political outcomes by allowing users to bet on the outcome of elections. While these platforms provide important information, they also highlight the need for new regulatory frameworks to manage potential fraud risks. The emergence of Polymarket shows the broad impact of blockchain technology in politics, where its applications go beyond financial means into political influence.

After the 2024 Elections: The Way Ahead

The trajectory of cryptocurrency in the US policy will largely depend on the way the new system balances innovation and consumer protection. Institutional interest in digital assets, as seen in the rise of Bitcoin ETFs and DeFi platforms, suggests that crypto is here to stay. However, to use this potential responsibly, the US must adopt forward-thinking policies that encourage innovation while managing risks.

The First 100 Days: Priorities for the New President

To address the critical needs of the digital economy, the next system must consider the following:

• Clarity of control over digital assets: Work with agencies like the SEC and CFTC to create guidelines that protect consumers and encourage innovation. Appointing new SEC leadership will also help facilitate these changes. Working with Congress to pass basic legislation like the FIT21 crypto bill and stablecoin regulations will be important.
• Blockchain infrastructure for social organizations: Explore the potential of blockchain in sectors such as healthcare and supply chain management to enhance efficiency and transparency.
• Promote financial inclusion and education: Support digital finance education programs, especially in underserved communities, to reduce wealth inequality and prepare the workforce for the digital economy.
• International cooperation: Collaborate with global partners to develop joint crypto laws, ensuring that the US policy remains competitive and compatible with the global market.
• Different sponsor collaboration: Include voices that go beyond traditional finance and technology, such as leaders like Carmelle Cadet (founder and CEO of EMTECH), Bitcoin strategist Charlene Fadirepo, and Blockchain Foundation executive director and founder of Butterscotch Media, Cleve Mesidor (person Forbes contributor), to get a comprehensive view of digital asset management. Create a task force that includes representatives of finance, technology, and advocacy to develop inclusive policies that consider the interests of corporate institutions and individual investors.

The 2024 elections confirmed the role of cryptocurrency as a force for change in politics. Its ability to bridge divides and appeal to different geographies positions digital assets as an influential issue for American voters. As the next administration develops its crypto policies, its regulatory approach, financial inclusion, and international cooperation will reflect the position of the US in the global digital economy. By adopting good policies, the US has the opportunity to lead the way, promoting a prosperous future for early adopters and young conservatives alike.