Survey Shows American Voters Skeptical of Crypto as Congress Advances CLARITY Act Amid Corruption Concerns

A national survey of 1,000 U.S. voters by Basswood Research reveals deep public skepticism toward cryptocurrency, with 70% believing it benefits insiders, criminals, and scammers over everyday Americans. While 72% support stronger regulation, a separate Politico poll shows only 18% prioritize crypto legislation. This public hesitation stands in stark contrast to Congress, which is actively advancing the CLARITY Act amid intense lobbying and concerns over political corruption.

Voter skepticism toward cryptocurrency

• ▪A national survey of 1,000 registered U.S. voters conducted by Basswood Research found that 70 percent of voters believe cryptocurrency benefits insiders, criminals, and scammers.
• ▪A Politico poll found that only 27 percent of voters support legitimizing cryptocurrency as a mainstream financial asset.
• ▪Only 15 percent of surveyed U.S. voters believe cryptocurrency gives ordinary people a better chance at investment success

Cryptocurrency fraud concerns

• ▪Eighty-four percent of surveyed U.S. voters agree that cryptocurrency can easily be used in investment scams and consumer fraud.
• ▪Eighty-four percent of surveyed U.S. voters agree that cryptocurrency can have extreme volatility, causing investors to quickly lose their investment.

Criminal use of cryptocurrency

• ▪Eighty-three percent of surveyed U.S. voters agree that cryptocurrency can be used by terrorist groups and hostile countries to disguise financing.
• ▪Eighty-four percent of surveyed U.S. voters agree that cryptocurrency can be used by criminal enterprises to launder money.

Crypto market manipulation

• ▪Eighty-one percent of surveyed U.S. voters agree that cryptocurrency markets can be manipulated by a small number of insiders.
• ▪The crypto industry super PAC Fairshake spent approximately $195 million in 2024 to elect a pro-cryptocurrency Congress

Transparency issues in crypto

• ▪Eighty-one percent of surveyed U.S. voters agree that cryptocurrency lacks transparency, making it difficult to know why prices rise or fall in value
• ▪Seventy-one percent of surveyed U.S. voters agree that cryptocurrency can pose risks to the overall economy

Public demand for crypto regulation

• ▪A Politico poll found that only 18 percent of respondents want lawmakers to prioritize establishing rules for the cryptocurrency market.
• ▪Seventy-two percent of surveyed U.S. voters say there should be more oversight and regulation of cryptocurrency.