Emre Yumlu 
U.S. President Donald Trump growing involvement with cryptocurrencies continues to draw national attention. However, his and his family’s crypto ventures have now sparked a major debate in Washington. Democratic Representative Ro Khanna has announced that he is preparing a bill to ban presidents, their families, and elected officials from trading or holding cryptocurrencies.
Trump’s Crypto Ties Under Scrutiny
Following his election victory in November, Donald Trump accelerated his efforts in the crypto space. Just days before officially taking office, he introduced a memecoin bearing his own name — TRUMP — which immediately triggered ethical and political discussions.
In addition to Trump himself, his family’s involvement in crypto-related projects has drawn criticism from opponents. Representative Khanna accused the Trump family of potential conflicts of interest through their involvement in the World Liberty Financial (WLFI) crypto project, which has been at the center of growing scrutiny.
A Potential Ban on Politicians Trading Crypto
Speaking on MSNBC, Khanna stated, “No president, family member, or member of Congress should be allowed to trade or hold cryptocurrencies.” The proposed legislation reportedly aims to prohibit elected officials from owning, trading, or launching crypto tokens while in office.
Khanna further justified the proposal by referencing Trump, saying, “A sitting president accumulating such vast personal wealth is unprecedented in U.S. history.” The lawmaker emphasized that public service should remain free from personal financial conflicts — particularly in an industry as volatile and unregulated as crypto.
Trump’s CZ’s Pardon Sparks Controversy
Khanna’s criticism didn’t stop with Trump. He also condemned the recent pardon of Binance founder Changpeng Zhao (CZ), calling it “a clear act of corruption.” According to Khanna, CZ allegedly avoided harsher penalties thanks to financial backing tied to the WLFI project.
He went on to say, “We’re talking about a foreign billionaire who was involved in money laundering, funneled funds to terrorist organizations, and then sought a pardon from Donald Trump.” The statement intensified ongoing discussions around political influence and crypto lobbying.
A New Battle in Washington
Although Khanna has not yet revealed the full details of the bill, he emphasized that its purpose is to prevent elected officials from owning crypto assets or receiving foreign funds.
The proposal has already generated significant buzz in both political and crypto circles. If passed, the legislation could mark the first time in U.S. history that a sitting president and their family face an explicit ban on cryptocurrency trading — potentially setting a new precedent for political ethics in the digital asset era.
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