US lawmaker seeks to stop Trump, family from crypto, stock trading

2 hours ago

A US lawmaker is seeking to prohibition US President Donald Trump, his family, and different congresspeople from trading crypto oregon stocks.

“I americium contiguous introducing authorities to prohibition the president, his family, members of Congress, and each elected officials from trading crypto oregon stocks,” US Representative Ro Khanna said arsenic helium shared a clip of his quality connected MSNBC from Monday.

Khanna, a Democrat typical from California’s 17th Congressional District and vice-chair of the Congressional Progressive Caucus, raised concerns astir Trump’s evident struggle of involvement with crypto via his son’s crypto project World Liberty Financial (WLFI), alleging the caller pardoning of Binance co-founder Changpeng “CZ” Zhao was “blatant corruption.”

“You’ve got a overseas billionaire who was fundamentally engaged successful money-laundering,” Khanna said of CZ, adding: “then helium petitions for a pardon from Donald Trump aft fundamentally funneling wealth to terrorists.”

However, CZ precocious fired backmost at akin accusations from Senator Elizabeth Warren, claiming she “can’t get her facts right.”

CZ pled blameworthy a azygous felony number of violating the US Bank Secrecy Act aft failing to support an effectual Anti-Money Laundering (AML) programme astatine Binance.

Khanna alleged that the Binance co-founder was being fto disconnected the hook owed to Binance’s fiscal backing of WLFI — echoing caller sentiments from US Representative Maxine Waters.

“And what helium does is helium says ‘I’m going to enactment World Liberty,’ which is the president’s son’s cryptocurrency firm, which they’re making millions of dollars connected portion Donald Trump is president. And Donald Trump gives him a pardon portion helium is fundamentally financing Donald Trump’s cryptocurrency stablecoin.”

Trump has faced disapproval for his ties to WLFI connected aggregate occasions, nevertheless his lad Eric Trump, has consistently denied that his begetter has immoderate transportation to the project. In a caller interview from September, Eric stressed that his begetter “is moving a nation. He's not progressive successful our businesses successful immoderate way, signifier oregon form."

Khanna did not spell into circumstantial details of his legislative proposal, but did not mince his words, concluding by calling for a prohibition connected “any elected authoritative from having cryptocurrency and accepting overseas money.”

According to authorities records, Khanna’s latest measure has not yet been officially introduced yet.

Banning authorities officials from trading

The contented of whether authorities officials should beryllium allowed to marque investments successful areas specified arsenic the banal marketplace has been highly contested for immoderate time.

The statement presently rages connected successful the US via the bipartisan legislature banal trading bill, which is expected to beryllium voted connected soon.

To supply discourse connected however muddied the waters are, portion Khanna has called retired Trump’s ties to crypto, helium besides has immoderate vested interests of his ain successful the banal market, highlighting immoderate imaginable hypocrisy.

According to information from Quiver Quant, Khanna himself has notched up $80.3 cardinal worthy of banal commercialized measurement successful 2025.

Since becoming a California typical successful 2017, Khanna has made implicit 35,000 trades that relationship for much than $580 cardinal successful full volume, with his apical 3 traded sectors being financials, accusation technology, and healthcare.