US lawmaker seeks to stop Trump, family from crypto, stock trading

A US lawmaker needs to ban US President Donald Trump, his household and members of Congress from buying and selling in cryptocurrencies or shares.

U.S. Rep. Ro Khanna, a Democratic consultant from California’s seventeenth Congressional District and vice chairman of the Congressional Progressive Caucus, used an look on MSNBC to specific considerations about Trump’s obvious battle of curiosity with cryptocurrencies by his son’s crypto undertaking World Liberty Monetary (WLFI). He claimed that the current pardon of Binance co-founder Changpeng “CZ” Zhao was “blatant corruption.”

“You’ve a international billionaire who was really engaged in cash laundering,” Khanna stated of CZ, including, “And he is asking for a pardon from Donald Trump after basically funneling cash to terrorists.”

Nevertheless, CZ just lately fired again at comparable accusations made by Senator Elizabeth Warren, claiming she “cannot get her details straight.”

CZ pleaded responsible to 1 felony rely of violating the U.S. Financial institution Secrecy Act after failing to take care of an efficient Anti-Cash Laundering (AML) program at Binance.

Khanna claimed that the Binance co-founder was fired on account of Binance’s monetary help of WLFI – echoing current sentiments from US Consultant Maxine Waters.

“And what he does is say, ‘I’ll help World Liberty,’ the president’s son’s cryptocurrency firm that they are making hundreds of thousands of {dollars} from whereas Donald Trump is president. And Donald Trump pardons him whereas he is really funding Donald Trump’s cryptocurrency stablecoin.”

Trump has been criticized a number of instances for his ties to WLFI; Nevertheless, his son Eric Trump has persistently denied that his father has any connection to the undertaking. In a September interview, Eric emphasised that his father “runs a nation. He’s not concerned in any means with our companies.”

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Rep. Khanna discusses his reasoning for introducing the brand new laws. Supply: Ro Khanna

Khanna didn’t elaborate on specifics of his invoice, however didn’t mince phrases, closing by calling for a ban on “any elected official from proudly owning cryptocurrency and accepting international cash.”

In accordance with authorities knowledge, Khanna’s newest invoice has not but been formally launched.

Prohibiting authorities officers from buying and selling

The query of whether or not authorities officers must be allowed to spend money on areas such because the inventory market has been extremely controversial for a while.

The talk is at the moment raging within the US by the bipartisan inventory buying and selling invoice in Congress, which is anticipated to be voted on quickly.

To offer context on how muddied the waters are, whereas Khanna has talked about Trump’s ties to crypto, he additionally has some vested pursuits within the inventory market of his personal, highlighting some potential hypocrisy.

In accordance with knowledge from Quiver Quant, Khanna itself achieved $80.3 million in inventory buying and selling quantity in 2025.

Since changing into a California consultant in 2017, Khanna has executed greater than 35,000 transactions totaling greater than $580 million in quantity, together with his high three buying and selling sectors being monetary providers, info expertise and healthcare.

Rep Khanna’s historical past of inventory buying and selling. Supply: Quiver Amount