Banks Remain the Preferred Choice for Financial Access Among Americans, Survey Reveals

The concept of cryptocurrency was initially introduced as a response to the banking sector's shortcomings during the 2008 financial crisis, but nearly two decades later, the public still favors traditional banking systems for financial access, according to a 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 over half of the respondents (52%) believe cryptocurrency is more than a fleeting trend, 60% think it will have a predominantly negative impact on the economy. The survey, conducted by research firm Public Opinion Strategies, polled 1,000 randomly selected U.S. voters and aimed to gauge public sentiment 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' perspectives 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 sector over the cryptocurrency industry's key policy priority: 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 U.S. lending. So far, this argument has stalled the Clarity Act for months, although recent indications suggest the bill may start moving forward in the coming days. Despite public distrust, cryptocurrency has made significant strides in a short period, integrating itself into the financial life and culture of the U.S. 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% have more than $10,000 in digital assets. The information the public is consuming about the industry does not seem to be improving their view, with over half (53%) having a less favorable impression of the industry due to recent news coverage. When considering cryptocurrency, those who like it are drawn to its potential 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 may be open to it. Negative views are most prevalent among people older than 45, with a significant increase in distrust as age increases. Males, Republicans, and minority groups exhibit the most consistent affinity for cryptocurrency, according to the data. The survey also explored public perceptions of artificial intelligence, which, like cryptocurrency, is met with distrust from older respondents, while younger people's views are more mixed. Overall, 55% believe the risks of AI technology outweigh its benefits. However, younger demographics, males, and Republicans are more likely to support AI advancements, similar to their views on digital assets. Additionally, cryptocurrency owners are more likely to support the benefits of AI, with 64% stating that its pursuit is worth the risks. While corporate America has widely adopted AI in various aspects of business, the new data on public perceptions reveals a significant gap in acceptance that emerging technologies may need to overcome. The cryptocurrency industry has pinned its hopes on eventual inclusion in the U.S. financial regulatory system to gain wider acceptance and comfort for those who are hesitant due to concerns about oversight. However, this process is contingent upon a sharply divided Congress and the slow pace of federal regulators like the Securities and Exchange Commission. Key regulators appointed by President Donald Trump, who is supportive of cryptocurrency, have pledged to expedite the process of bringing digital assets into the mainstream. Furthermore, key senators have suggested that the Clarity Act will receive the necessary hearing in May, potentially making it viable for passage in 2026. CoinDesk will release additional survey data on Tuesday at Consensus Miami.