A YouGov poll revealed that crypto voters might be a key factor in shaping the results of Australia’s next federal election.
Around 2 million Australians could shape the outcome of the upcoming federal election in May by voting as a pro-crypto bloc, according to a YouGov poll.
Millions of Australians may vote for pro-crypto leaders in the next federal election, positioning crypto investors as a key electoral force, according to a recent survey.
Crypto exchange Swyftx reported on Feb. 19 that a recent YouGov poll of 2,031 Australian voters found that 59% of current crypto investors favor candidates with pro-crypto policies in the upcoming election.
Swyftx stated that nearly 2 million Australians could align as a pro-crypto electoral force based on this statistic.
Swyftx also reported that YouGov’s survey showed 33% of crypto owners felt indifferent to a candidate’s crypto stance, while around 5% would be less likely to support a pro-crypto candidate.
YouGov’s latest polling on Feb. 16 found that Peter Dutton’s center-right Coalition leads in the race to form a government, placing it above the incumbent center-left Labor Party led by Prime Minister Anthony Albanese.
YouGov’s poll projected that the Coalition would claim 73 seats, just shy of the 76 needed to govern, putting pressure on Albanese to court nearly every crossbencher to hold onto leadership.
Although officials have not yet set an exact date, the election must take place no later than May 17.
“For the first time in our political history, we’re about to enter a federal election with a crypto-voting bloc that’s big enough and motivated enough to swing the result,” Swyftx CEO Jason Titman said in a statement.
He stated that the typical crypto investor is under 50, financially well-off, and “ensconced in the inner and outer suburbs of our big cities—key political battlegrounds.”
“As an industry, we know our customers want clear rules that protect local investors and support competition and innovation,” Titman said. “No one wants the status quo.”
“The rest of the world is getting on with introducing properly tailored legislation, and Australia has sat on the sidelines.”
Swyftx reported that YouGov’s data showed around 18% of surveyed voters above 50 expressed a lower likelihood of supporting a pro-crypto politician.
“I fully accept our sector needs to do a better job of spelling out the productivity and investment benefits of crypto technology to non-crypto users,” Titman said.
“It’s on us to do a better job of making the benefits of blockchain technology clear to all segments of the population, including older voters,” he added.
As part of a national omnibus study, YouGov conducted its polling from February 3 to February 10.
Similar to how cryptocurrency policies became a decisive factor for some voters in the last U.S. election, crypto-related issues are likely to influence Australia’s upcoming vote.
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A report by Stand With Crypto states that roughly 270 candidates who backed cryptocurrency successfully gained seats in the U.S. legislative chambers.
By integrating cryptocurrency policies into the core of his campaign—speaking at the Bitcoin 2024 conference, sharing commitments online, and appearing at crypto-friendly venues like Pubkey bar—Donald Trump won the election on November 5 last year with strong support from crypto advocates.
Much like in the U.S., where crypto voters shaped policy discussions, pro-crypto Australians are now influencing the political landscape, with almost 2 million of them holding potential sway over the election.
The ongoing policy debate over cryptocurrency in Australia may deepen, just as it did in the U.S., where regulatory uncertainty became a major point of contention.
However, the outcome of Australia’s election may determine whether policymakers align the country’s regulatory direction with the U.S. on stricter rules or favor innovation.
Once considered a niche financial discussion, cryptocurrency has now become a mainstream political matter in both the U.S. and Australia. Its proponents are demanding policies that support growth instead of limiting innovation. As a result, Australia’s regulatory approach may mirror the U.S. more closely.
