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Crypto election season kicks off
The United States is holding its presidential election this fall. More than half a dozen other countries and bodies are holding – or have held – elections this year. Some candidates and lawmakers have already addressed crypto, whether appealing to the industry or simply commenting on the technology. The extent to which there is a “crypto voter” remains unclear, but it is undeniable that a wave of attention is being directed towards this industry.
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There will be more than half a dozen elections this year, from the U.S. presidential election this fall to the European Union election next month to South Korea’s election on last month and much more. Although crypto is not shaping up to be a major election issue in most of these elections, we have still heard candidates – including former US president and presumptive Republican nominee Donald Trump – speaking directly to members of the crypto community.
Crypto hasn’t really been an issue in past elections. Sure, there have been candidates who had previously dabbled in crypto or were close to the industry, but there hasn’t really been a concerted effort to try to solicit people who think crypto is a major, or major, factor for their vote. To some extent, this appears to be changing, although it is still difficult to quantify to what extent the crypto contingent will constitute a major voting bloc.
This year, CoinDesk seeks to cover the elections as comprehensively as possible, with a focus on crypto and related issues. The first wave of articles we published focused on the extent to which crypto could be an issue in some of these elections, and the extent to which industry players in different countries expect that election results will affect crypto policy.
Indonesia’s new vice president, for example, has said he wants to improve technology education, including crypto and blockchain education – during his campaign.
And in the United States, a massive wave of attention hit last week, after former US President Donald Trump (who is the clear favorite to win the Republican Party nomination this year) told a group of his NFT holders that he was “for that” in reference to crypto. It comes barely three months after saying “you will probably have to regulate” around crypto, and years after he famously said he was “not a fan of bitcoin and other cryptocurrencies.”
As Danny Nelson reported, it’s it is unclear whether Trump understands the problems around crypto, but it is nevertheless aimed at the crypto community. His comments sparked many reactions online chat whether it is the bulwark against what is seen in crypto circles as state overreach or what role crypto voters play could play in the elections. Current President Joe Biden’s administration has not been the most crypto-friendly, with a series of actions from the Securities and Exchange Commission and the Justice Department going after the largest crypto exchanges and d other companies and services. It’s unclear what will happen when the presidential campaigns shift to the general election in the coming weeks.
These are questions that deserve further exploration over the coming months. For now, I leave you with the first wave of articles from CoinDesk covering the potential effect of elections in various countries.
We also look survey information, prediction markets, political action committee activities and more. If you have any thoughts on the role of crypto in these elections, or the effect these elections might have on crypto, please do not hesitate to contact us. We want to hear from you. This goes for presidential, senatorial, and congressional elections in the United States and their equivalents everywhere else.
You can continue to follow all our election coverage around the world on this link.
If you have any ideas or questions about what I should discuss next week or any other comments you would like to share, please feel free to email me at nik@coindesk.com or find me on Twitter @nikhileshde.
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