Trump Faces New Blow — Lawmaker Pushes Ban On His Crypto And Stock Trading
US Representative Ro Khanna introduced plans to introduce laws geared toward stopping elected officials — together with US President Donald Trump, members of Congress and their households — from buying and selling or creating cryptocurrencies and from taking sure international funds.
The move comes amid renewed scrutiny over political ties to the crypto trade and follows high-profile developments this 12 months which have targeted consideration on doable conflicts of curiosity.
Khanna Announces New Measure Vs. Trump Crypto Trading
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 referred to as a troubling sequence of occasions involving crypto executives and presidential actions that, in his view, elevate critical ethics questions.
Reports be aware Khanna beforehand backed efforts to curb inventory buying and selling by lawmakers by the 2023 Ban Congressional Stock Trading Act, and his newest transfer widens the scope to digital property.
Lawmakers And Investigations Have Ramped Up
According to media protection, different Democratic lawmakers have already sought information tied to the Trump household’s crypto enterprise, asking the Securities and Exchange Commission to protect paperwork as a part of probes into doable conflicts.
That request dates to April 2, 2025, and displays a broader push to hint cash and affect round political figures and crypto corporations.
Links 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.
Some reporting has put giant sums and potential offers within the highlight: one report cited a doable Trump-linked stablecoin association that would have been value as a lot as $2 billion, a determine that has helped drive urgency amongst critics.
At the identical time, truth checks present elements of the general public dialogue have been misstated; as an illustration, the particulars of Zhao’s authorized final result have been clarified in follow-up protection.
What The Law Would Do
Based on stories, the draft language would power coated officers to divest digital property, chorus from creating tokens whereas they maintain workplace, and keep away from taking international 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 prime officers.
Lawmakers have filed a number of payments this 12 months that deal with related goals, and Congress.gov information present measures on digital asset limits and on broader stock-trading bans circulating within the 119th Congress.
Featured picture from Kevin Dietsch/Getty Images, chart from TradingView
