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

The concept of cryptocurrency was initially introduced as a response to the banking system's shortcomings during the 2008 financial crisis. However, nearly two decades later, the general public still favors traditional financial systems for their financial needs, according to a recent survey conducted by CoinDesk. When asked to choose between banks and cryptocurrency for financial inclusion, 65% of respondents preferred banks, while only 5% opted for cryptocurrency. Although over 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 U.S. voters conducted by research firm Public Opinion Strategies. The survey aims to provide insight into public sentiment as cryptocurrency and artificial intelligence issues are being debated in Congress, federal regulatory bodies, and political campaigns leading up to 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 have been at odds 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 the U.S. lending system. So far, their argument has stalled the Clarity Act for months, although recent signs suggest the bill may start moving forward in the coming days. Despite public distrust, cryptocurrency has made significant progress in a short time, becoming a part of the financial life and culture in 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 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 commonly held by people over 45, with a significant increase in distrust among older age groups. Males, Republicans, and minority groups tend to have a more consistent affinity for cryptocurrency, according to the data. The survey also examined public perceptions of artificial intelligence, which, like cryptocurrency, is viewed with distrust by older respondents, while younger people's views are more mixed. Overall, 55% of respondents believe that the risks of AI technology outweigh its benefits. However, younger demographics, males, and Republicans are more likely to support AI advances, as they do with 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 negative perception gap that emerging technologies may need to overcome for mass acceptance. 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 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. Key regulators appointed by crypto-supporting President Donald Trump have pledged to move as quickly as possible to bring digital assets into the mainstream. Furthermore, 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.