New Survey Finds American Voters See Crypto as a System That Benefits Insiders, Criminals, and Scammers

Seven in ten voters say cryptocurrency benefits the few, not everyday Americans.

WASHINGTON, July 17, 2026 /PRNewswire/ -- After years of promises that cryptocurrency would open new doors for everyday Americans, a new national survey released today by Crypto Watchdog finds that voters see the industry very differently: as a risky, opaque marketplace that benefits insiders, criminals, and scammers.

The survey of 1,000 registered U.S. voters, conducted by Basswood Research, found that 70 percent of voters believe cryptocurrency benefits insiders, criminals, and scammers, while just 15 percent believe it gives ordinary people a better chance at investment success.

The findings point to a deep and broad rejection of the crypto industry's central promise. Voters across party, ideological, and demographic lines see a marketplace that serves the few at the expense of the many, with major concerns about fraud, manipulation, volatility, money laundering, and national security threats.

"Crypto has been sold to the public as a tool for financial freedom, but voters see something very different: a risky, opaque and insider-driven marketplace where ordinary people are left exposed," said Chapin Fay, executive director of Crypto Watchdog. "Americans do not believe the rules should be written for crypto billionaires, industry insiders or bad actors. They want transparency, accountability and stronger guardrails to be protected from fraud, manipulation and abuse."

The survey also finds that cryptocurrency is trusted far less than major institutions that themselves often face public skepticism. Just 20 percent of voters say they trust cryptocurrency. Nearly two-thirds of voters, 65 percent, say they have a high level of distrust in cryptocurrency.

"The majority of Americans, regardless of demographic or educational backgrounds, share deep skepticism about cryptocurrency, reflecting a broad lack of confidence in the industry," said Jon Lerner, founder and principal of Basswood Research. "This shared thinking across the U.S. underscores how widespread concerns about crypto have become," Lerner said.

Most Americans have no direct involvement with cryptocurrency. Seventy-seven percent say they have never owned it, and 68 percent say they would not be open to owning it in the future. Among all voters, 72 percent say there should be more oversight and regulation of cryptocurrency.

The survey shows voters overwhelmingly agree that cryptocurrency presents significant risks to consumers, law enforcement, financial markets, and national security:

• 84% agree cryptocurrency can easily be used in investment scams and consumer fraud.
• 84% agree cryptocurrency can have extreme volatility, causing investors to quickly lose their investment.
• 84% agree cryptocurrency can be used by criminal enterprises to launder money.
• 83% agree cryptocurrency can be used by terrorist groups and hostile countries to disguise financing.
• 81% agree cryptocurrency markets can be manipulated by a small number of insiders.
• 81% agree cryptocurrency lacks transparency, making it difficult to know why prices rise or fall in value.
• 71% agree cryptocurrency can pose risks to the overall economy.

The survey was conducted by live professional interviewers by telephone. It interviewed 1000 registered voters, with a margin of error of +/-3.1% at a 95% confidence interval. To review the full survey results, please click here.

About Crypto Watchdog
Crypto Watchdog is a consumer advocacy group dedicated to protecting consumers and promoting transparency, accountability, and stronger oversight in cryptocurrency markets.

About Basswood Research
Since its founding in 2001, Basswood Research has conducted survey research in every state and in hundreds of congressional districts and local communities. Its founder and principal, Jon Lerner, has been recognized by Roll Call, National Journal, the Washington Post and others as one of the leading Republican pollsters in the nation. Basswood has helped elect more than two dozen U.S. Senators, Members of Congress, and Governors, including leading conservatives such as Lindsey Graham, Nikki Haley, and Marco Rubio. It has served as pollster for leading conservative advocacy groups such as the Club for Growth, and it has conducted surveys for the national Republican Party committees at the RGA, the NRSC, and the NRCC.

SOURCE Crypto Watchdog