US Voters Prefer Traditional Banking Over Cryptocurrency, Survey Reveals

The concept of cryptocurrency was born out of the 2008 financial crisis as an alternative to traditional banking, but nearly two decades later, the public remains skeptical and favors the traditional financial system for their financial needs, according to a recent survey commissioned by CoinDesk. When asked to choose between banks and cryptocurrency for financial inclusion, 65% of respondents opted for banks, while only 5% preferred cryptocurrency. Although more than half of the respondents, 52%, believe that cryptocurrency is more than just a passing trend, 60% think it will have a largely negative impact on the economy. These findings are based on a survey of 1,000 randomly selected US voters conducted by research firm Public Opinion Strategies. The survey aims to capture the current sentiment of the public as cryptocurrency and artificial intelligence issues are being debated in Congress, federal regulatory bodies, and political campaigns ahead of the 2026 midterm elections. This article is part of a CoinDesk series examining voters' views on the 2026 midterm election. The perception that banks are safer than cryptocurrency comes at a critical time for the industry, as lobbyists are engaged in a battle with the banking industry over the crypto sector's key policy goal: the Senate's Digital Asset Market Clarity Act. Banks have argued that stablecoin rewards could directly compete with their interest-bearing deposit accounts, potentially threatening a migration that could strangle US lending. So far, their argument has stalled the Clarity Act for months, although recent signs suggest the bill may start moving again in the coming days. Despite some public distrust, cryptocurrency has made significant progress in a short time, becoming an integral part of the financial life and culture of the US. Approximately one in four people, 27%, claim to have invested in cryptocurrency, although most of them did so at least a few years ago, and only 2% say they have more than $10,000 in digital assets. However, the information the public is consuming about the industry does not seem to be improving their view, with more than half, 53%, having a less favorable impression of the industry based on recent news coverage. When thinking about cryptocurrency, those who like it are drawn to its potential for profitability, while those who distrust it focus on the scams associated with the sector. About 46% of people have no involvement with cryptocurrency and do not want to, leaving 27% who have not yet invested but might be open to it. Negative views are more likely to be held by people older than 45, with a significant increase in distrust as age increases. Males, Republicans, and minority groups tend to have a more consistent affinity for cryptocurrency, according to the data. The AI question, similar to cryptocurrency, also receives a significant amount of distrust from older respondents, although younger people's views are mixed. Overall, 55% believe that the risks of AI technology outweigh its benefits. However, younger demographics, males, and Republicans are more likely to support AI advancements, as they do with digital assets. Additionally, owners of cryptocurrency are more likely to support the benefits of AI, with 64% saying its pursuit is worth the risks. While corporate US has widely adopted AI in various aspects of business, the new data on public perceptions reveals a negative perception gap that emerging technologies may need to overcome for widespread acceptance. The cryptocurrency industry has pinned its hopes on eventual inclusion in the US system of financial regulation to gain wider acceptance and provide comfort to those who worry about its oversight. However, this process depends on a sharply divided Congress and the slow timeline of federal regulators like the Securities and Exchange Commission. Nevertheless, key regulators appointed by crypto-supporting President Donald Trump have pledged to move as quickly as possible to bring digital assets into the mainstream. Key senators have suggested that the Clarity Act will finally receive the hearing it needs in May, keeping it potentially viable for passage in 2026. CoinDesk will release data from this survey on Tuesday at Consensus Miami.