Cryptocurrencies emerged in part as a response to bank mistakes and abuses during the 2008 financial crisis, but despite cryptocurrencies having been around for nearly 20 years and attracting widespread attention, the public is not convinced at this point and still favors financial services from the traditional financial system, according to a new poll commissioned by CoinDesk.
When asked who they trust more in banks and cryptocurrencies when it comes to financial inclusion, 65% of online survey respondents said banks, with only 5% preferring cryptocurrencies. While just over half (52%) believe the movement is more than a passing fad, 60% believe cryptocurrencies will become a major negative force in the economy.
That’s the conclusion of 1,000 randomly selected American voters last week by research firm Public Opinion Strategies. The survey seeks to understand public sentiment as cryptocurrency and artificial intelligence issues emerge in Congress, federal regulators and in political campaigns leading up to this year’s congressional midterm elections.
This article is part of CoinDesk’s series on voters’ views on the 2026 midterm elections.
The perception that banks are safer than cryptocurrencies comes at a delicate time for the industry, when industry lobbyists have been battling the banks over the cryptocurrency industry’s most important policy hope: the Senate’s Digital Asset Market Clarity Act. Banks argue that stablecoin rewards could compete directly with their own interest-bearing deposit accounts and threaten a migration that could stifle U.S. lending. Their arguments have stalled the Clarification Act for months so far, although the latest indications are that it could start moving forward again in the coming days.
Despite some public distrust, cryptocurrencies have come a long way in a short period of time, integrating themselves into American financial life and culture. About a quarter said they have invested in cryptocurrencies (27%), although most of them entered the cryptocurrency space at least a few years ago, and only 2% said they own more than $10,000 in digital assets.
Whatever information the public gets about the industry, it doesn’t seem to help improve their views, with more than half (53%) having a less favorable impression of the industry in recent news reports. When they think of cryptocurrency, those who like it are most inclined to the concept of its profitability, while those who distrust it focus on the scams associated with the industry.
About 46% have nothing to do with cryptocurrencies and say they don’t want to do so, but a further 27% have not yet invested and say they may be open to it. People over 45 are most likely to hold negative views, with distrust rising sharply with age. The data shows that men, Republicans and minorities are most consistent in their affinity for cryptocurrencies.
artificial intelligence issues
Like cryptocurrencies, AI is also met with considerable distrust by older respondents, although younger people’s views are quite mixed.
Overall, 55% believe the risks of AI technology outweigh its benefits. But younger generations, men, and Republicans are all more likely to support these advances, as they have done in the digital asset space. Cryptocurrency owners are also more likely to support the benefits of AI, with 64% saying it’s worth the risk.
While U.S. businesses have already embraced the use of artificial intelligence in nearly all aspects of their operations, new data on public perceptions reveals negative perception gaps that emerging technologies may need to overcome to gain widespread acceptance. The crypto industry is banking on its eventual inclusion in the U.S. financial regulatory system to gain wider acceptance and bring more comfort to holdouts concerned about its regulation. But that process depends on a calming timeline from a deeply divided Congress and federal regulators like the Securities and Exchange Commission.
Still, the main regulator appointed by cryptocurrency supporter President Donald Trump has pledged to move quickly to bring digital assets into the mainstream. Leading senators say the Clarification Act will finally get the required hearings in May, giving it a chance of passage in 2026.
CoinDesk will release data from the survey on Tuesday at the Consensus conference in Miami.