By Anika Dandekar
Cryptocurrency has quickly become a major industry and is becoming more and more widespread. intertwined with politics. While President Donald Trump has promoting crypto expansion and its adoption, critics have highlighted the potential of crypto risks and harms.
New data for progress vote reveals that voters across party lines are concerned about potential consumer losses, damage to the overall economy and the industry’s growing political influence.
The survey asked voters whether they thought increased adoption of cryptocurrency would harm local economies, as fewer traditional deposits limit the availability of credit, or whether it would help local economies, by creating new means of decentralized financial independence. A strong majority of voters (65%) believe crypto will hurt local economies, by a +45 point margin over those who say it will help. Majorities of Democrats (71%), independents (68%), and Republicans (58%) agree that increased adoption of crypto at the expense of traditional deposits at banks or credit unions will be detrimental.
