Self-custody rights are property rights Seth Hertlein | The Last Free Americans

Seth Hertlein is the Global Head of Policy at Ledger and one of the earliest, most persistent advocates for bitcoin self-custody in Washington. Known for his “lone ranger” years as the only lobbyist focused on protecting non-custodial rights, he brings a rare combination of securities law expertise, political insight, and deep conviction about individual property rights. In this episode, Seth joins The Last Free Americans to share how he fell down the bitcoin rabbit hole, why self-custody is a return to humanity’s oldest property norms, and how today’s policy battles will define digital freedom for generations. We dig into the evolution of financial intermediaries, the history of natural rights from Aristotle to the framers, and the real political forces lining up for and against self-custody.

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TIMESTAMPS:

0:00 – Intro to The Last Free Americans & Seth’s unique role in policy

2:20 – How a securities regulator became an “accidental crypto lobbyist”

5:03 – Early bitcoin reading, monetary policy, and recognizing its political nature