“Coinbase Predicts California Crypto Voters May Impact 2024 U.S. Elections”


According to a recent study by Coinbase, California’s crypto enthusiasts could have a significant impact on the outcome of the 2024 US election. Among the various cryptocurrency exchanges in the country, Kraken has highlighted the findings of a survey that shows a significant portion of the state’s population owns and supports candidates who prioritize policies related to blockchain and digital assets.

The survey revealed that approximately 27% of Californians (equivalent to 8.2 million people) own some form of cryptocurrency. This group strongly advocates for policies that promote innovation and technological disruption. In fact, 78% of crypto-holders worldwide believe that governments should support emerging technologies such as blockchain and digital assets. This sentiment is particularly strong in California, where a large number of voters in the younger Gen Z and Millennial age groups are more likely to support candidates who are crypto-friendly.

Coinbase’s report highlights the potential political influence of California’s cryptocurrency owners. The majority of this group (around 80%) is inclined to support candidates who prioritize the growth of the US crypto industry, which could have a significant impact on electoral outcomes. They also share a common desire for more standardized regulations for cryptocurrency, as opposed to the current fragmented approach.

The traditional understanding of the crypto industry by the government has already been challenged by the ambitions of Republican party candidates. For example, Florida Governor Ron DeSantis, who previously opposed central bank digital currencies (CBDCs), dropped out of the presidential race. Similarly, former President Trump stated that he would also oppose CBDCs if re-elected.

There is a growing demand for clear and consistent regulations for cryptocurrency among both crypto owners and US voters. This aligns with the results of a survey by the Crypto Council for Innovation, which shows widespread support for lawmakers to establish clear rules for the crypto industry. As a result, crypto users could become a significant voting block in the 2024 elections, potentially influencing candidates’ platforms and policy proposals.

As digital assets become more integrated into the financial system, the need for a regulatory framework that balances innovation and safety becomes increasingly urgent. With California’s crypto owners showing a willingness to support pro-crypto candidates, the message to Congress and policymakers is clear: Crypto communities are active and seeking an environment that fosters growth and innovation in the digital asset sector.

In conclusion, the influence of California’s crypto enthusiasts on the 2024 US election cannot be ignored. With a significant number of voters supporting pro-crypto policies and regulations, candidates will need to consider this group’s preferences when crafting their platforms. As the crypto industry continues to grow, it is crucial for legislators to establish clear and consistent regulations that support its development in a safe and sustainable manner.

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