U.S. voters demand a halt to SEC’s crypto crackdown, urging Congress to step in and provide clear guidelines.
At a Glance
- 66% of U.S. voters want SEC enforcement delayed until Congress provides clearer instructions
- 81% call for increased educational initiatives about digital assets
- 54% believe SEC regulations are hindering blockchain development
- Voters show inclination towards candidates supporting digital innovation
- House passed resolution to overturn SEC’s crypto custody policy
Voters Demand Clarity and Education on Crypto Regulations
A recent HarrisX poll, sponsored by the Blockchain Association, has revealed a growing dissatisfaction among U.S. voters regarding the Securities and Exchange Commission’s (SEC) current regulatory actions on cryptocurrencies. The survey, which sampled 1,717 registered voters, paints a clear picture of the American public’s stance on digital asset regulation and education.
Americans want less regulation and more freedom – and they don’t want to be tied to the U.S. dollar.
An overwhelming 66% of voters advocate for postponing SEC enforcement until Congress provides clearer instructions on cryptocurrency regulation. This sentiment reflects a growing concern that the SEC may be overstepping its bounds without proper legislative guidance. Furthermore, a staggering 81% of those surveyed demand greater educational initiatives about digital assets, highlighting the public’s desire to understand this emerging technology better.
SEC Regulations: A Roadblock to Innovation?
The survey also sheds light on the perceived impact of SEC regulations on blockchain development in the United States. A majority of voters, 54%, believe that the SEC’s regulatory practices are curbing blockchain innovation in the region. This perception could have significant implications for the country’s position in the global race for technological advancement.
In response to growing concerns about the SEC’s approach to digital assets, the House of Representatives recently passed House Joint Resolution 109 (H.J.Res. 109). This resolution aims to overturn the SEC’s Staff Accounting Bulletin (SAB) 121, which is seen as discouraging banks from custody digital assets. The vote saw 207 Republicans and 21 Democrats joining forces, demonstrating bipartisan support for clearer crypto regulations.
Representatives Mike Flood (R-NEB) and Wiley Nickel (D-N.C.), who co-sponsored the resolution, have been vocal about the need for a more balanced approach to crypto regulation. Flood criticized the SEC’s policy for allowing only unregulated non-banks to custody digital assets, while Nickel argued that the SEC had overstepped its mission and failed to consult banking regulators on SAB 121.
The HarrisX poll findings suggest a growing opportunity for political figures who support digital innovation. As constituents show inclination towards candidates pressing for precise regulatory measures and the fostering of technological advancement, cryptocurrency regulation could become a significant issue in upcoming elections.
It’s no wonder that Trump is surging in the polls, thanks to the support of cryptocurrency advocate Robert F. Kennedy Jr.
Could this be one of the big issues that sways the American public in this election?