New poll shows crypto voters could influence Australian election

A recent YouGov poll indicated that the upcoming federal election in Australia may be swayed significantly by crypto voters. With close to 2 million Australians potentially shaping the outcome as a pro-crypto voting bloc, the influence of crypto investors in the political landscape cannot be overlooked.

According to a survey conducted by Swyftx based on responses from 2,031 Australian voters, a substantial 59% of existing crypto investors are inclined to support candidates advocating pro-crypto policies in the forthcoming election. This data suggests that a significant portion of the electorate could align themselves as a pro-crypto force, collectively impacting the political trajectory of the nation.

The YouGov poll results also highlighted that while a majority of crypto owners expressed preference for pro-crypto candidates, about 33% maintained a neutral stance towards a candidate’s crypto policy. Additionally, around 5% of respondents indicated they would be disinclined to support a candidate with pro-crypto views.

The survey conducted by YouGov on February 16 indicated that Peter Dutton’s center-right Coalition is positioned favorably to form a government, currently leading the incumbent center-left Labor Party guided by Prime Minister Anthony Albanese. The poll projected that the Coalition might secure 73 seats, signaling a potential change in governance and adding pressure on Albanese to engage with every crossbencher to retain leadership.

With no fixed date announced yet, the federal election is anticipated to occur no later than May 17. Swyftx CEO Jason Titman highlighted the significance of the crypto voting bloc, emphasizing that this sector, composed mainly of individuals below 50 with financial stability, wields substantial influence in key political battlegrounds in cities.

Titman underscored the importance of clarifying the advantages of blockchain technology to non-crypto users, indicating that it is imperative to enhance understanding among older voters to promote widespread acceptance of crypto-related policies. The global shift towards tailored legislation for cryptocurrencies, juxtaposed against Australia’s inaction, underscores the need for a proactive and coherent regulatory approach in the country.

In echoing the impact seen in the U.S. election, where cryptocurrency emerged as a focal point for some voters, it is anticipated that crypto-related discussions will play a pivotal role in shaping Australia’s political landscape. The potential sway of almost 2 million pro-crypto Australians over the election underscores the growing prominence of cryptocurrency in mainstream political conversations.

With regulatory uncertainty looming large, akin to the scenario in the U.S., Australia stands at a crucial juncture where policy decisions could mirror those of stricter regulatory environments or champion innovation. The upcoming federal election will likely determine whether Australia aligns its regulatory trajectory closely with the U.S. on imposing stringent regulations or opts for an approach that fosters innovation and growth in the crypto sector.