A US lawmaker has proposed legislation that could reshape the intersection of politics and digital assets in the country. The proposed bill would prohibit the US President, members of Congress, and their immediate family members from owning, trading, or creating cryptocurrencies. The objective of the bill introduced by US Representative Ro Khanna is said to be to resolve conflicts of interest and rebuild public confidence in the face of mounting criticism of political connections to the cryptocurrency sector. The lawmaker’s remarks come after Changpeng “CZ” Zhao, a co-founder of Binance, was recently pardoned, and accusations surfaced that his family was involved in a contentious cryptocurrency venture.
US Representative Ro Khanna’s Bill Aims to Restore Trust, Prevent Conflicts in Crypto
Khanna, who represents California’s 17th Congressional District, argued that elected officials should be completely separated from financial activities that could compromise their decisions in office. After CZ’s pardon, he expressed particular concern about the Trump family’s alleged involvement with World Liberty Financial (WLFI), a cryptocurrency project connected to Eric Trump, saying it raised significant ethical issues. “This is about trust. We cannot allow personal investments to interfere with public duty,” Khanna said, adding that his proposal aims to draw a clear line between public service and private gain.
The pardon of Zhao is corrupt.
I explain simply what’s going on.
I am today introducing legislation to ban the president, his family, members of Congress, and all elected officials from trading crypto or stocks. @unusual_whales has been sounding the alarm on this for years. pic.twitter.com/OgibgdnqkK
— Ro Khanna (@RoKhanna) October 27, 2025
Details of the bill have yet to be revealed, but early indications suggest it would bar the US President, Vice President, members of Congress, and their immediate family members from owning, trading, or promoting cryptocurrencies while in office. It might also penalise those who try to hide holdings through third parties and prevent officials from accepting cryptocurrency funds with foreign connections.
According to data from Quiver Quant, Khanna himself has reported over $80 million (roughly Rs. 705 crore) worth of stock trades in 2025 alone, spanning sectors such as finance, information technology, and healthcare. Since assuming office in 2017, he has executed more than 35,000 trades, amounting to a total trading volume exceeding $580 million (roughly Rs. 5,100 crore).
This raises the question of whether Khanna’s push for stricter trading rules among public officials could also reflect potential conflicts within his own investment activity.
Whether the bill gains traction or not, the lawmaker’s announcement underlines a growing debate in Washington over crypto ethics and political integrity. The plan represents an attempt to guarantee that in the age of digital finance, public service comes before private gain, as worries about possible corruption and insider access grow.
Cryptocurrency is an unregulated digital currency, not a legal tender and subject to market risks. The information provided in the article is not intended to be and does not constitute financial advice, trading advice or any other advice or recommendation of any sort offered or endorsed by NDTV. NDTV shall not be responsible for any loss arising from any investment based on any perceived recommendation, forecast or any other information contained in the article.
