Despite its origins as a response to the banking issues highlighted by the 2008 financial crisis, cryptocurrency has not convinced the American public of its advantages over traditional banks, according to recent polling conducted for CoinDesk.
In an online survey involving 1,000 randomly chosen U.S. voters, 65% expressed more trust in banks than cryptocurrencies when it comes to financial inclusion, while a mere 5% preferred crypto. While 52% acknowledge cryptocurrency as more than just a trend, 60% believe its impact on the economy will be predominantly negative.
This survey by Public Opinion Strategies, conducted last week, aims to gauge public sentiment amid ongoing discussions in Congress and among federal regulators about cryptocurrencies and artificial intelligence, particularly with the upcoming midterm elections. This article is part of CoinDesk’s series examining voter opinions as they relate to the 2026 midterms.
The perception that banks are more secure coincides with a critical period for the crypto industry, which faces opposition from banking lobbyists over key policy issues like the Senate’s Digital Asset Market Clarity Act. Banks argue that stablecoin incentives could rival their deposit accounts and threaten U.S. lending by drawing away deposits. This contention has delayed the Clarity Act for several months, although recent developments suggest it may progress soon.
Despite some skepticism, cryptocurrency has quickly integrated into American financial life, with 27% of people having invested in it, mostly a few years ago. Only 2% report holding over $10,000 in digital assets.
Recent news coverage has not improved public perception; more than half (53%) have developed a negative impression of the industry. Positive sentiments often focus on profitability potential, while negatives are linked to scams and fraud.
Approximately 46% of respondents avoid cryptocurrencies altogether, whereas 27% who haven’t invested might consider it in the future. Older individuals, particularly those over 45, exhibit greater distrust, which increases with age. Males, Republicans, and minority groups show more consistent support for crypto.
Artificial intelligence also faces significant skepticism among older populations, though younger demographics have mixed opinions. Overall, 55% believe AI’s risks surpass its benefits, yet younger individuals, males, and Republicans are somewhat more supportive of both AI and digital assets. Crypto owners are notably more inclined to view AI positively, with 64% endorsing its development despite the risks.
While corporate America has widely adopted AI in business practices, this survey highlights a perception gap for emerging technologies that must be addressed to achieve broader acceptance. The crypto industry hopes for regulatory inclusion within the U.S. financial system to gain wider legitimacy and reassure skeptics about oversight, though this is contingent on a divided Congress and slow-moving regulators like the SEC.
Despite these challenges, key regulators appointed by former President Donald Trump have committed to accelerating the mainstream adoption of digital assets. Prominent senators indicate that the Clarity Act could receive a crucial hearing in May, keeping its passage viable for 2026. CoinDesk plans to release full survey data at Consensus Miami on Tuesday.