30s Summary

Jerrod Sessler, founder of HomeTask maintenance service and former NASCAR driver, is challenging incumbent Dan Newhouse for Washington’s 4th Congressional District. Sessler opposes centralized control of cryptocurrencies, and if elected, will fight against any push for it, stating it goes against American liberty. He believes regulation of DeFi systems should prioritize public safety while also promoting legitimate business working within the system. He opposes regulation of banks involved in crypto transactions and expects minimal involvement from the SEC and CFTC. He warns against the dangers of self-custody of digital assets and believes candidates’ views on digital assets will be fundamentally important for future voters.

Full Article

Jerrod Sessler, new to GOP politics, is challenging Dan Newhouse who’s been in his seat since 2015 for the 4th Congressional District of Washington’s spot in the US House of Representatives. Besides his politics, Sessler is known for being an entrepreneur who started HomeTask maintenance service, and he’s served in the US Navy and used to be a NASCAR driver.

Sessler made it clear in a video post that he’s not cool with crypto being centralized or controlled. “Centralizing crypto messes up its purpose and freedom, and it would just create a voucher system for countries or people who adopt that system. Decentralized crypto is not controlled by or visible to the government,” says Sessler. He’s upfront about his intentions if he gets elected, “Those trying to undermine American Liberty are also trying to centralize crypto. As a Congressman, I will oppose the centralization of crypto in America.”

But Sessler’s not only about cryptocurrency. He stated in another video post that he’s also against centralizing sprawling government bureaucracies and their arbitrary overregulation.

Here’s how Sessler answered some questions sent to him by email by Cointelegraph on his views on digital assets and blockchain technology:

Talking about stablecoins, he says that if you regulate them like traditional finance, you’re handing over control to those who will oppress you just like with the United States dollar (USD).

When asked about the development of a digital dollar in the US, he thinks it’s important for the country, but he added that there should never be a requirement to use a centralized system without the decentralized option.

He believes stablecoins could be a stepping stone for people to feel at ease about moving into the crypto space.

According to Sessler, Congress’s role in regulating DeFi should mainly focus on public safety. Scams definitely not allowed, but if it’s a legitimate business function or tool then it should be allowed. He believes that the deregulated nature of these systems reduces the government’s ability to control internal functions, which he thinks is good.

As for the SEC and CFTC roles in overseeing the cryptocurrency industry, he said, “Very little.” He believes some stances could be taken to protect investors and provide stability if that can be done without compromising the decentralized nature of the systems.

He’s not in favor of Congress regulating banks that engage in crypto activities. He belives that much of the current banking regulation is harmful to the end-user.

He revealed that he owns some cryptocurrencies or digital assets and is learning and exploring more in the space.

Looking at the next 10 years, Sessler hopes to learn enough about crypto and blockchain to lead the country through it without taking away personal freedoms.

Also, he’s concerned about the self-custody of digital assets because of fear that some will be lost due to the lack of clear organization and record-keeping by individuals and risk of theft and insecurity of asset storage which could put access codes at risk.

Lastly, he thinks a candidate’s view on digital assets is really important for voters, especially now that we’re headed for major changes with digital currency and AI in the next decade.

Source: Cointelegraph