House Democrat Targets President Trump With Bill to Ban Lawmakers From Owning Crypto
Rep. Ro Khanna introduced legislation banning U.S. officials and their families from owning or trading cryptocurrency while in office.Summary
U.S. Congressman Ro Khanna (D-CA) is introducing legislation that would prohibit the President, members of Congress, and their immediate families from owning, trading, or creating cryptocurrencies while serving in office. This measure aims to separate digital assets from political power, rebuild public trust, and prevent officials from profiting from regulated technologies. The proposal follows President Donald Trump's pardon of Binance founder Changpeng Zhao, whom Khanna criticized as a "foreign billionaire engaged in money laundering and financing terrorism" who supported a crypto firm founded by Trump's sons. Khanna cited Zhao's pardon, which occurred after Zhao's financial backing of the Trump family's crypto project was revealed, as an example of "blatant corruption." The proposed ban mirrors previous efforts to curb insider trading among lawmakers, such as the STOCK Act and Senator Josh Hawley's PELOSI Act, which restricts officials from trading most individual stocks.
(Source：Bitcoin Magazine)