A US lawmaker is looking for to ban US President Donald Trump, his family, and different congresspeople from trading crypto or shares.
“I’m in the present day introducing laws to ban the president, his family, members of Congress, and all elected officers from trading crypto or shares,” US Consultant Ro Khanna mentioned as he shared a clip of his look on MSNBC from Monday.
Khanna, a Democrat consultant from California’s seventeenth Congressional District and vice-chair of the Congressional Progressive Caucus, raised issues round Trump’s obvious battle of curiosity with crypto by way of his son’s crypto undertaking World Liberty Monetary (WLFI), alleging the current pardoning of Binance co-founder Changpeng “CZ” Zhao was “blatant corruption.”
“You’ve bought a overseas billionaire who was mainly engaged in money-laundering,” Khanna mentioned of CZ, including: “then he petitions for a pardon from Donald Trump after mainly funneling cash to terrorists.”
Nevertheless, CZ not too long ago fired again at related accusations from Senator Elizabeth Warren, claiming she “can’t get her information proper.”
CZ pled responsible a single felony rely of violating the US Financial institution Secrecy Act after failing to preserve an efficient Anti-Cash Laundering (AML) program at Binance.
Khanna alleged that the Binance co-founder was being let off the hook due to Binance’s monetary backing of WLFI — echoing current sentiments from US Consultant Maxine Waters.
“And what he does is he says ‘I’m going to assist World Liberty,’ which is the president’s son’s cryptocurrency agency, which they’re making hundreds of thousands of {dollars} on whereas Donald Trump is president. And Donald Trump offers him a pardon whereas he’s mainly financing Donald Trump’s cryptocurrency stablecoin.”
Trump has confronted criticism for his ties to WLFI on a number of events, nevertheless his son Eric Trump, has constantly denied that his father has any connection to the undertaking. In a current interview from September, Eric confused that his father “is operating a nation. He is not concerned in our companies in any means, form or type.”
Khanna didn’t go into particular particulars of his legislative proposal, however didn’t mince his phrases, concluding by calling for a ban on “any elected official from having cryptocurrency and accepting overseas cash.”
In accordance to authorities information, Khanna’s newest invoice has not but been formally launched but.
Banning authorities officers from trading
The problem of whether or not authorities officers must be allowed to make investments in areas such because the stock market has been extremely contested for a while.
The controversy at present rages on within the US by way of the bipartisan congressional stock trading invoice, which is predicted to be voted on quickly.
To supply context on how muddied the waters are, whereas Khanna has referred to as out Trump’s ties to crypto, he additionally has some vested pursuits of his personal within the stock market, highlighting some potential hypocrisy.
In accordance to information from Quiver Quant, Khanna himself has notched up $80.3 million value of stock commerce quantity in 2025.
Since turning into a California consultant in 2017, Khanna has remodeled 35,000 trades that account for greater than $580 million in whole quantity, along with his high three traded sectors being financials, data know-how, and healthcare.
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