US Representative Ro Khanna is expected to introduce a resolution today that would stop the President, his family members, and members of Congress from trading crypto or stocks and accepting foreign funds.
Behold, the drama unfolds! š This proposal arrives as the public collectively gasps at Trumpās pardoning of Binanceās Changpeng Zhao. One might say itās a tale as old as time-politicians trading while in power, all while the rest of us are left to ponder how they manage to afford those fancy suits. š¤”
Khanna Targets Crypto Trading in Congress
California Representative Ro Khanna is set to unveil a Congressional resolution today to prevent the President and Members of Congress from trading cryptocurrencies and accepting foreign money. A most sensible move, if one can ignore the irony of politicians suddenly caring about ethics. š§
Khanna first announced the initiative over the weekend. Since then, he has used social media and televised interviews to explain his reasoning behind this move. āWe have a president who is enriching himself and his family in an obscene wealth that is unprecedented in American history,ā he declared, as if we hadnāt already guessed. š§©
āWe have a president who is enriching himself and his family in an obscene wealth that is unprecedented in American history. People need to wake up to whatās going on- itās corruption right before our very eyes,ā Khanna told MSNBC.
The California representative has long advocated for banning stock trading by politicians and prohibiting campaign contributions from PACs and lobbyists. This new measure appears prompted by Trumpās recent decision to grant a prominent crypto figure clemency. š
Trumpās Binance Pardon Fuels Political Backlash
Last week, Trump pardoned Binance founder Changpeng Zhao (CZ) for violating US anti-money laundering laws. Some welcomed the news, viewing the case against CZ as an example of unfair treatment toward the crypto industry. Others, however, saw it as a political move and a calculated effort by Binance to win the Presidentās favor. š¤
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.
– Ro Khanna (@RoKhanna) October 27, 2025
Khanna aligned himself with the latter view. āYouāve got a foreign billionaire who was basically engaged in money launderingā¦ and then he petitions for a pardonā¦ and what he does is he says, āIām going to support World Libertyāā¦ which theyāre making millions of dollars on while Donald Trump is President,ā he explained. š§¼
Despite these public remarks, Khannaās office has not yet released the detailed text of the proposed legislation. A mystery as deep as the crypto market itself. š§©
What distinguishes Khanna from other critical Democrats is his generally positive outlook on cryptocurrencies. A man who sees the glass as half-full, even as itās being siphoned by his own party. š·
Growing Scrutiny Over Politics and Crypto
Stand With Crypto, a crypto advocacy group closely affiliated with Coinbase, currently lists Khanna as a politician who is āstrongly supportiveā of cryptocurrency. The California representativeās A-grade sharply contrasts with some of his Democratic colleagues and outspoken critics of the Presidentās connections to the crypto industry. š
Despite his favorable view of crypto and its underlying technology, Khanna has generally advocated for a clear separation between the industryās influence and politics. A noble goal, if one can ignore the fact that his own party seems to have a love affair with both. šø
This sentiment has recently grown stronger among the public as Trumpās ties to the crypto industry have expanded. š
Trumpās campaign and affiliated PACs have received millions in donations from the crypto industry, while his family-backed venture, World Liberty Financial, has launched its own stablecoin. The company has also reportedly been involved in a crypto-related deal with the UAE that coincided with the country receiving more favorable US AI chip technology access. A web of intrigue as tangled as a crypto wallet password. š
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2025-10-28 01:14