American adults are split on whether to trust cryptocurrency. But a majority agree that the government should provide clearer regulation of digital assets, according to a new poll.
Seventy-nine percent of respondents say there should be clearer regulation of the crypto industry, according to a poll commissioned by Grayscale. Further, 76% said the federal government should establish “clear rules” for cryptocurrency trading.
The survey was conducted for Grayscale by The Harris Poll, and comes as policymakers in Washington, D.C. consider setting new rules for cryptocurrencies. The digital asset industry has been embroiled in a debate this week over a bill that would grant new authority to the Commodity Futures Trading Commission on digital commodities.
“There is strong support for U.S. crypto regulation: Americans want clearly established rules and regulations. They indicate the regulation should be consumer focused to ensure crypto is accessible to everyone,” The Harris Poll wrote in a summary of its survey.
Poll respondents were less likely to trust cryptocurrency than traditional investment tools and big banks. Eighty-four percent said they trust traditional investment tools like stocks and bonds, while 51% said they trust cryptocurrencies. That percentage was slightly higher than the 49% of respondents who said they trust politicians and the government.
Still, more than half of respondents — 53% — said they see crypto as the “future of finance.”
New rules for the industry could prompt more Americans to invest in digital assets, the survey found. Fifty-seven percent of those polled said they would be more comfortable investing in crypto if there was more government regulation. Approximately one-fifth of people surveyed said they own cryptocurrencies like bitcoin, ethereum, dogecoin or USDC as an asset or investment tool, while 6% said they owned NFTs.
On the global stage, adults polled were split on where the U.S. stands on crypto regulation compared with other countries. Forty percent said the U.S. is “on par” with other countries when it comes to “creating a regulatory environment that promotes cryptocurrencies,” or making it “easier or safer for anyone to buy or trade crypto.” Meanwhile, 39% said the U.S. is either “somewhat” or “far behind” other countries, and only 6% said the U.S. is “far ahead” of other countries.
The online poll surveyed 2,029 adults from Oct. 6-11. Respondents were selected from a group of people who previously agreed to participate in Harris surveys.
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