U.S. Representative Ro Khanna is preparing to introduce a resolution seeking to bar U.S. presidents, their families, and members of Congress from trading cryptocurrencies or stocks. The proposal comes at a time when public outrage is mounting over President Donald Trump’s decision to pardon Binance co-founder Changpeng Zhao (CZ), a move that has reignited debate over political ethics and financial conflicts of interest in Washington.
Khanna, a Democratic lawmaker from California, said the measure is intended to restore faith in government integrity and curb what he described as blatant misuse of power for personal enrichment. Speaking on MSNBC, he condemned the current administration, saying, “We have a president who is enriching himself and his family in obscene ways. People need to wake up — this is corruption in plain sight.” His comments echo the growing sentiment that political figures should not be allowed to profit from industries they directly or indirectly influence through policy.
The controversy stems from Trump’s recent pardon of CZ, who served a four-month prison sentence for violating U.S. anti-money-laundering regulations. The decision has polarised Americans—with some viewing it as a symbolic act to encourage innovation in crypto, while others see it as a clear example of favouritism benefiting a politically connected billionaire. Khanna has aligned with the latter camp, accusing Trump of exploiting his position to advance financial interests linked to global elites.
He also raised concerns about Trump’s family business, World Liberty Financial, which recently launched a stablecoin and reportedly entered into a crypto-related partnership with the United Arab Emirates. These developments, Khanna argued, blur the lines between public service and private gain, making transparency reforms urgent.
Ironically, Khanna himself is widely regarded as a pro-crypto voice within the Democratic Party. According to the Coinbase-backed advocacy group Stand With Crypto, he ranks among the few Democrats who “strongly support” digital assets. However, he has long advocated for ethical guidelines to ensure that the rise of cryptocurrency does not come at the expense of accountability in government.
Khanna’s proposal could open a new chapter in Washington’s ongoing debate over digital assets—not just as financial instruments, but as potential catalysts for corruption. As Trump’s ties to crypto enterprises expand, the resolution may force lawmakers and the public to confront whether the problem lies in the technology itself or in those wielding political power to shape its future.
