US Consultant Ro Khanna introduced plans to introduce laws aimed toward stopping elected officers — together with US President Donald Trump, members of Congress and their households — from buying and selling or creating cryptocurrencies and from taking sure overseas funds.
The transfer comes amid renewed scrutiny over political ties to the crypto trade and follows high-profile developments this 12 months which have targeted consideration on attainable conflicts of curiosity.
Khanna Broadcasts New Measure Vs. Trump Crypto Buying and selling
Khanna stated the proposal would bar the president, his household, members of Congress and different elected officers from proudly owning, issuing or buying and selling crypto whereas in workplace.
He tied the push to what he known as a troubling collection of occasions involving crypto executives and presidential actions that, in his view, increase severe ethics questions.
Reviews be aware Khanna beforehand backed efforts to curb inventory buying and selling by lawmakers via the 2023 Ban Congressional Inventory Buying and selling Act, and his newest transfer widens the scope to digital belongings.
Lawmakers And Investigations Have Ramped Up
In keeping with media protection, different Democratic lawmakers have already sought data tied to the Trump household’s crypto enterprise, asking the Securities and Alternate Fee to protect paperwork as a part of probes into attainable conflicts.
That request dates to April 2, 2025, and displays a broader push to hint cash and affect round political figures and crypto corporations.
Hyperlinks To Pardons And Funding
Khanna and others have pointed to Trump’s pardon of Binance founder Changpeng Zhao as a catalyst for motion, saying the transfer highlighted how political choices and crypto trade relationships can combine in ways in which undermine public belief.
Complete crypto market cap at $3.82 trillion on the every day chart: TradingView
Some reporting has put massive sums and potential offers within the highlight: one report cited a attainable Trump-linked stablecoin association that would have been price as a lot as $2 billion, a determine that has helped drive urgency amongst critics.
On the similar time, truth checks present elements of the general public dialogue have been misstated; as an illustration, the particulars of Zhao’s authorized consequence had been clarified in follow-up protection.
What The Legislation Would Do
Based mostly on studies, the draft language would drive coated officers to divest digital belongings, chorus from creating tokens whereas they maintain workplace, and keep away from taking overseas funding tied to crypto ventures.
Some variations of associated proposals in Congress additionally search to increase buying and selling bans to shares and different securities for high officers.
Lawmakers have filed a number of payments this 12 months that handle comparable goals, and Congress.gov data present measures on digital asset limits and on broader stock-trading bans circulating within the 119th Congress.
Featured picture from Kevin Dietsch/Getty Pictures, chart from TradingView
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