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A new bill aimed at imposing a crypto trading ban on U.S. President Donald Trump, his family, and members of Congress is gaining attention in Washington. The proposal, announced by Democratic Congressman Ro Khanna, seeks to prohibit elected officials from trading, issuing, or profiting from cryptocurrencies while in public office.
Speaking on MSNBC, Khanna cited rising ethical concerns following Trump’s expanding involvement in the cryptocurrency space, including his TRUMP memecoin and a family-linked project known as World Liberty Financial (WLFI).
“The president has enriched himself and his family with an unprecedented wealth accumulation in U.S. history,” Ro Khanna, U.S. Representative (D-CA), in a televised interview.
Khanna’s proposal represents one of the most direct political responses yet to Trump’s growing influence in digital assets, a move that, if enacted, could reshape how U.S. policymakers engage with the crypto industry.
The crypto trading ban is designed to prevent conflicts of interest by ensuring that no sitting officials profit from the same markets they regulate.
Since his election victory in November 2024, Trump’s approach to digital assets has evolved from advocacy to active participation. His decision to launch the TRUMP memecoin just days before taking office sparked immediate controversy, prompting calls for tighter oversight.
Critics argue that Trump’s family-linked cryptocurrency projects blur ethical lines between personal business and national governance.
The crypto trading ban proposed by Khanna would directly address these concerns by outlawing cryptocurrency ownership or trading by the president, their immediate family, and members of Congress.
The bill, while still in its drafting phase, reflects wider anxieties over the intersection of power, money, and digital finance. Khanna’s focus on Trump’s World Liberty Financial (WLFI) project underscores fears that crypto could be used to consolidate personal wealth and political leverage.
Khanna also criticized Trump’s pardon of Binance co-founder Changpeng Zhao (CZ), calling it “blatant corruption.” The pardon, which followed Zhao’s conviction for money laundering, has reignited debate about political interference in cryptocurrency-related prosecutions.
“There’s a foreign billionaire who was basically involved in money laundering. He later sought pardon from Donald Trump after funneling money to terrorists,” Ro Khanna, U.S. Representative (D-CA).
While no direct evidence has yet been presented linking Zhao’s pardon to Trump’s crypto dealings, Khanna suggested the incident exemplifies how unregulated relationships between political figures and crypto investors could compromise national integrity.
His crypto trading ban proposal, therefore, seeks to erect firm boundaries between policymakers and the financial technologies they influence.
The introduction of a crypto trading ban targeting Trump and lawmakers is likely to spark fierce partisan debate. Trump’s supporters argue that his engagement with cryptocurrencies reflects innovation and financial independence, while critics see it as self-serving opportunism.
Khanna’s comments also highlight a growing divide in U.S. politics regarding crypto regulation. Democrats increasingly emphasize transparency and accountability, while many Republicans frame regulation as government overreach.
Although details of Khanna’s bill remain undisclosed, his stated goal is clear: “Any elected official should be banned from owning cryptocurrency and accepting foreign currency,” Ro Khanna, U.S. Representative (D-CA).
For now, the crypto trading ban discussion signals a broader reckoning over the ethical boundaries of political engagement in emerging digital markets. As cryptocurrencies gain mainstream traction, how the U.S. balances innovation with integrity may define the next chapter of its financial governance.
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