A new report from the Federal Reserve shows that cryptocurrency adoption in the United States has reached its highest level in the past three years, with more Americans using digital assets mainly for investment rather than daily payments.
According to the report, around 10% of U.S. adults said they used or invested in cryptocurrency in 2025. This is higher than the figures recorded in 2023 and 2024, although it still remains below the 12% peak seen during the crypto market boom in 2021.
The data showed that most crypto users treated digital assets as investments. Around 9% of adults said they used crypto for investing, while only 2% used it for payments and 1% used it to send money to family or friends.
Companies in the crypto and payment sectors continue pushing digital assets into everyday commerce despite the low transaction numbers. Block, led by Jack Dorsey, has enabled Bitcoin and stablecoin payments for more than 800,000 merchants across the U.S. Meanwhile, Lightspark, founded by former PayPal president David Marcus, has been expanding Bitcoin payment infrastructure through the Lightning Network.
The report also found that crypto use for transactions was higher among unbanked Americans. About 6% of unbanked adults said they used cryptocurrency for transactions in 2025, compared to 2% of banked adults. The Federal Reserve estimated that roughly 6% of Americans remained unbanked during the year.
Among people using crypto for payments, more than a quarter said businesses preferred digital assets as a payment method. Users mentioned faster transfers, lower fees, and privacy as the main reasons for choosing crypto payments. Very few respondents linked crypto use to distrust in traditional banks.
Separate polling by POLITICO and research firm Public First showed that cryptocurrency policy is still not a major issue for most American voters. Only 4% of respondents said a political candidate’s position on crypto would affect their vote in an upcoming election.
The survey also showed mixed opinions on government efforts to support crypto as a mainstream financial asset. Around 27% supported such measures, 31% opposed them, and 42% said they were neutral or unsure.
Traditional banks also continued to enjoy higher public trust than crypto platforms. Polling found that 47% of respondents trusted banks more with their money, while only 9% preferred crypto platforms.
Despite ongoing regulatory debates, institutional interest in digital assets has remained strong. A joint survey by Coinbase and EY-Parthenon found that 74% of institutional investors expected crypto prices to rise, while 73% planned to increase their digital asset holdings before the end of 2026.
The survey also showed that regulated investment products, including crypto exchange-traded products, have become the preferred way for many institutions to gain exposure to digital assets.
At the regulatory level, the Federal Reserve has continued taking a cautious approach toward crypto under Chairman Jerome Powell. Attention is now shifting to Kevin Warsh, who is expected to replace Powell after Senate approval. Warsh has previously compared Bitcoin to gold for younger investors and said the asset could help strengthen market discipline.
