John Avlon, a former CNN anchor and editor-in-chief of The Daily Beast, is running for the United States House of Representatives to represent New York’s 1st Congressional District. As a Democrat, he will be competing against incumbent Republican Nick LaLota in the upcoming November elections.
Although Avlon has never held elected office, he has gained experience working as a speechwriter and deputy policy director for former New York Mayor Rudy Giuliani. Additionally, he has authored numerous books on US politics. Avlon launched his campaign in February and has outlined his policy plans for digital assets on his campaign website.
Avlon’s website emphasizes the need for clear regulations in the digital currency industry. He believes that the lack of leadership and clear regulations has been detrimental to the industry’s growth and has put consumers at a disadvantage. Avlon pledges to support legislation that promotes fair and future-focused regulation for cryptocurrencies and blockchain technology, such as the Financial Innovation and Technology of the 21st Century Act.
Since 2015, Republicans have held control over New York’s 1st Congressional District, and they currently have a slim majority in the House of Representatives. Avlon winning the district for the Democrats could potentially impact whether the party gains control of the House in 2025.
Avlon recently answered questions about his views on digital assets and blockchain technology posed by Cointelegraph. He expressed his support for the regulation of stablecoins, advocating for legislation like the Clarity for Payment Stablecoins Act. Avlon believes it is crucial to have appropriate reserves in place to protect consumers and ensure trust in the system.
Regarding the development of a central bank digital currency (CBDC), Avlon supports continued investigation and study on the risks, benefits, and necessity of implementing a CBDC in the US. He points out that while 134 countries are researching or piloting a CBDC, it is essential to assess if a CBDC would outperform the existing trusted payment system in terms of cost and efficiency.
Avlon agrees with the idea that stablecoins can extend the dominance of the US dollar. He believes it is vital for policymakers to prioritize policies that protect the American dollar, the domestic economy, and the purchasing power of American consumers.
When it comes to regulating decentralized finance (DeFi), Avlon supports the FIT21 Act, which establishes a regulatory framework for determining the jurisdiction of digital assets. He believes that the SEC should regulate digital assets, while the CFTC should oversee digital commodities.
Avlon also supports traditional banks integrating cryptocurrency services as long as they abide by the law and uphold consumer protections. He believes that banks should have the right to offer cryptocurrency services.
In terms of his personal stance on cryptocurrencies and digital assets, Avlon discloses that he owns crypto through an investment fund.
Looking ahead, Avlon believes that establishing a workable domestic regulatory framework is crucial for the future of cryptocurrencies and blockchain technologies in the US. He hopes that the US will take a leading role in establishing a global regulatory framework.
Avlon supports the idea of individuals having self-custody of their digital assets as long as they are aware of the associated risks. He compares it to the risks of keeping cash under a mattress, where there is a possibility of losing funds in unforeseen circumstances.
In an election year, Avlon believes that a candidate’s view on digital assets should be considered by voters. He believes that embracing new technologies and being proactive in preparing for future prosperity is essential for candidates.
Ultimately, Avlon sees the issue of digital assets as a matter of American competitiveness and leadership. He emphasizes the importance of bipartisan support for the crypto industry to ensure its success.