Lawmaker Pushes Total Ban on Crypto for Elected Officials After Trump Pardons CZ

A growing storm is brewing in Washington as Representative Ro Khanna of California plans to introduce legislation that would block President Donald Trump, his family, and all elected officials from trading cryptocurrencies or stocks while in office.

In an interview with MSNBC, Khanna accused Trump of “clear conflicts of interest” tied to World Liberty Financial (WLFI), a crypto project co-founded by Trump’s son, Eric Trump. He argued that the recent presidential pardon of Binance founder Changpeng “CZ” Zhao – who pleaded guilty to violating anti–money laundering laws – was “a textbook case of political corruption.”

Khanna claimed CZ’s ties to WLFI may have influenced the pardon, alleging the exchange had “financially supported” the Trump family’s crypto venture. The congressman said his forthcoming bill would seek a complete ban on all elected officials holding or trading digital assets or foreign-linked securities.

While the proposed measure has not yet been formally introduced, Khanna insisted it is meant to prevent U.S. leaders from “profiting off the policies they shape.”

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Trump’s family has denied any improper connections. Eric Trump previously said his father “is running a country, not our businesses,” distancing him from WLFI’s operations.

Khanna’s comments have reignited the debate over financial ethics in U.S. politics, especially as several bipartisan bills move through Congress seeking to curb insider trading among lawmakers.

Still, the congressman’s own financial record has raised eyebrows. Data from Quiver Quant shows that Khanna has personally executed more than 35,000 trades worth $580 million since taking office in 2017 – mostly in financial, tech, and healthcare stocks.

The irony has not gone unnoticed, but Khanna insists his new legislation will set a uniform standard for accountability: “No one in power should be speculating in markets they influence – crypto or otherwise.”