Rep. Ro Khanna (D-Calif.) introduced Saturday he’ll introduce a decision prohibiting President Donald Trump and his household from participating in cryptocurrency enterprise and accepting international funds.
Trump Enriching Himself In An ‘Obscene’ Wealth, Says Khanna
Talking to MSNBC, Khanna accused Trump of utilizing his workplace to amass cryptocurrency wealth.
“Look, we have now a president who’s enriching himself and his household in an obscene wealth that’s unprecedented in American historical past,” the lawmaker mentioned. “We can not flip a blind eye to this corruption.”
New Decision To Restrict Crypto For President, Family
He highlighted the case of Changpeng “CZ” Zhao, a international billionaire beforehand convicted of violating anti-money laundering legal guidelines, who invested within the Trump household–backed stablecoin, World Liberty Monetary USD (USD1), and was subsequently pardoned. The president’s household, Khanna alleged, is making thousands and thousands from this association.
“On Monday, I might be introducing a decision to cease the president, his household, and members of Congress from buying and selling in crypto and accepting cash from international entities,” Khanna introduced.
The White Home didn’t instantly return Benzinga’s request for remark.
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CZ’s Pardon Beneath Scrutiny
CZ’s presidential pardon has ignited a political flashpoint, with a number of Democratic lawmakers, together with Sen. Elizabeth Warren (D-Mass.), calling it an act of “corruption.”
Trump mentioned that he doesn’t personally know Zhao, however was knowledgeable by “lots of people” that Zhao was unjustly “persecuted” by the Biden administration.
Notably, USD1 was chosen to shut Abu Dhabi funding agency MGX‘s $2 billion deal with Binance earlier this yr.
Khanna has been actively concerned in cryptocurrency discussions, having beforehand organized a Bitcoin (CRYPTO: BTC) and blockchain roundtable in Washington, D.C., and mentioned the potential of Bitcoin as a U.S. strategic reserve asset.
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