Khanna Proposes Broad Ban on Officials' Crypto Holdings

Rep. Ro Khanna (D‑Calif.) introduced a congressional resolution and plans legislation to bar the President, Vice President, members of Congress, other elected officials and their immediate families from issuing, owning, trading, sponsoring, or endorsing cryptocurrencies and related digital assets while in office (and in some proposals for two years after), and to require such holdings be placed in blind trusts with full, timely disclosure. The proposal would also seek to prohibit foreign investment tied to those individuals and could impose penalties for undisclosed holdings to remove conflicts of interest between public duty and private crypto gain. Khanna said the effort builds on his 2023 Ban Congressional Stock Trading Act and was prompted by President Trump’s pardon of Binance founder Changpeng “CZ” Zhao and alleged financial ties between the Trump family and crypto ventures such as World Liberty Finance. Reporting on Khanna’s remarks flagged factual inaccuracies about Zhao; Zhao pleaded guilty as part of a $4.3 billion settlement and served four months in custody, not four years as misstated. Lawmakers have sought related records and probes into Trump‑linked crypto dealings, but the bill’s exact provisions and its prospects in Congress remain uncertain.