A new survey sponsored by Paradigm shows that Republican presidential candidate and former US President Trump has won growing support within the party after recently expressing support for Crypto assets.
Last month, Paradigm, a venture capital firm focused on crypto assets, surveyed 1,025 likely Republican voters about their views on the emerging industry, with the results showing deep trust in the current financial system and support for Trump.
The survey showed that about 13% of Republicans who had claimed that they did not plan to vote for Trump were now more likely to vote for him due to his stance in support of Crypto assets. Another group of respondents also expressed an increased enthusiasm for voting for the former president.
Trump has taken a more favorable stance toward Crypto assets and pledged support for the industry.
During his campaign, Trump vowed to make the United States a BTC mining “powerhouse” and said Crypto assets might be the “last line of defense” against central bank digital currencies (CBDCs).
At the same time, the majority of respondents believe that Crypto assets are an important force in the U.S. economy.
Therefore, 40% of respondents suggested that the U.S. government should pave the way for U.S. companies to develop products such as stablecoins in order to compete with China’s central bank digital currency (digital RMB).
In addition, about 60% of respondents said that the U.S. Congress should pass legislation to provide clear regulatory provisions for the Crypto asset industry.
Another 40% of respondents believe that Crypto asset regulation should be overseen by elected representatives rather than unelected representatives appointed by government agencies such as the U.S. Securities and Exchange Commission (SEC).
The poll also highlighted Republicans’ use of Crypto assets. Since March 2024, the percentage of Republicans who own or have purchased Crypto assets has increased from the national average of 19% to 28%.
Of these people, 87% plan to purchase more Crypto assets in the next year, while the remaining 13% intend to make their first Crypto purchase in the next 12 months.
Many respondents cited distrust of the financial system as one of the reasons for getting involved in Crypto assets.
“Seventy-two percent of Republican voters are at least somewhat concerned that they might lose access to financial services because of their political or religious views,” the report states.
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