US Representative Ro Khanna says he wants to stop President Donald Trump, his family, and elected officials from trading cryptocurrencies and stocks. In a recent interview on MSNBC, Khanna called for new rules to prevent public officials from holding assets that may lead to conflicts of interest.
Meanwhile, the comments come after renewed attention on a crypto firm tied to one of Trump’s sons.
Khanna raised concerns about a crypto company called World Liberty Financial (WLFI), which has been linked to Eric Trump. He said the project received support from Binance, whose founder, Changpeng Zhao (known as CZ), pleaded guilty to one federal charge related to US banking laws.
“You’ve got a foreign billionaire who was basically engaged in money-laundering,” Khanna said. “Then he petitions for a pardon from Donald Trump after basically funneling money to terrorists.”
Khanna claimed that CZ backed WLFI financially and received a pardon in return. He added,
“They’re making millions of dollars on [WLFI] while Donald Trump is president.”
Eric Trump has pushed back on these claims, saying his father has no involvement with the firm. In a past interview, he said,
“He’s not involved in our businesses in any way, shape or form.”
CZ has also responded to similar claims by Senator Elizabeth Warren, saying she “can’t get her facts right.”
Khanna’s Plan to Limit Trading for Officials
Khanna said he will introduce a bill to stop all elected officials from trading crypto or owning digital assets. His plan also includes a ban on accepting money from foreign groups.
“We need to ban any elected official from having cryptocurrency and accepting foreign money,” he said.
Khanna did not share details of the bill or when he plans to file it. The proposal comes at a time when Congress is already debating another stock trading ban aimed at lawmakers.
That bill, which has support from both Democrats and Republicans, could see a vote soon.
Khanna’s Personal Trades Raise Attention
Khanna’s call for tighter rules has brought attention to his own trading history. According to Quiver Quant, he traded over $80 million in stock this year. Since 2017, his trades have totaled more than $580 million.
His largest trades were in financial, tech, and healthcare companies.
These numbers have led some observers to question whether Khanna and other lawmakers should be investing in markets they help regulate. Khanna has not commented directly on whether he would change his own trading under the proposed law.
Ongoing Debate in Washington
Whether lawmakers should be allowed to trade while in office remains a heated topic. Supporters of a ban say it’s a way to build public trust. Others argue that such rules are too strict and may discourage people from running for office.
The debate has gained more attention due to rising interest in crypto, where rules are still developing. Khanna’s new comments have pushed the issue back into the spotlight, especially with concerns over WLFI and its ties to people close to the president.
The bill has not been officially introduced in Congress.
