TL;DR
- US Rep. Ro Khanna plans legislation to bar President Trump, his family, and all elected officials from trading stocks or cryptocurrencies.
- The move follows concerns about conflicts of interest and alleged corruption tied to Trump's pardon of Binance co-founder Changpeng Zhao.
- Khanna's proposal comes amid ongoing debate over government officials' stock trading and the upcoming congressional vote on a bipartisan stock trading bill.
- Khanna himself has significant trading history, raising questions about hypocrisy and broader implications for congressional ethics.
US Representative Ro Khanna, a Democrat from California and vice-chair of the Congressional Progressive Caucus, has announced plans to introduce legislation aimed at banning President Donald Trump, his family, and members of Congress from trading stocks and cryptocurrencies. Khanna raised the issue during an appearance on MSNBC, citing apparent conflicts of interest tied to Trump's son Eric's crypto venture, World Liberty Financial (WLFI), and calling the pardon of Binance co-founder Changpeng Zhao a case of "blatant corruption."
"You've got a foreign billionaire who was basically engaged in money-laundering," Khanna said of CZ, adding, "then he petitions for a pardon from Donald Trump after basically funneling money to terrorists."
While Eric Trump has consistently denied any involvement of his father in WLFI, stating in a September interview that Donald Trump "is running a nation. He's not involved in our businesses in any way, shape or form" Reuters, Khanna argued that broader restrictions are necessary to prevent conflicts of interest in public office.
Khanna's legislative intent is clear. On X (formerly Twitter), he stated : "I am today introducing legislation to ban the president, his family, members of Congress, and all elected officials from trading crypto or stocks." He also referenced ongoing reporting by @unusual_whales highlighting potential ethical risks.
Congressional Stock Trading Debate
The idea of restricting stock market activity for government officials is not new, and the topic has gained traction amid growing scrutiny of congressional trading practices. Currently, a bipartisan congressional stock trading bill is pending, with a vote expected soon Politico.
Khanna's proposal expands this debate to include cryptocurrencies, reflecting increasing concerns about digital assets' role in potential conflicts of interest. However, the legislative landscape is complex. While Khanna has called out Trump's crypto ties, records indicate that he himself has an extensive stock trading history. According to Quiver Quant, Khanna has traded over $80.3 million in stock volume in 2025 alone. Since taking office in 2017, he has made more than 35,000 trades totaling over $580 million, with financials, information technology, and healthcare being his top three traded sectors Quiver Quant.
This contrast has sparked discussions about whether Khanna's own trading history could complicate his legislative push or raise questions about consistency in ethics reform.
The Crypto Angle
Khanna's focus on crypto comes at a critical moment. The recent pardon of Binance co-founder CZ has intensified scrutiny of political influence and foreign money in US financial markets. By targeting crypto alongside traditional stocks, Khanna aims to address what he sees as gaps in accountability for elected officials handling digital assets.
Crypto advocates and watchdog groups have noted that the intersection of politics and digital assets is increasingly fraught. Khanna's bill could set a precedent for stricter oversight, particularly as blockchain transparency makes tracking political exposure to digital assets easier than ever.
Potential Implications
If passed, the legislation would represent a significant tightening of financial regulations for elected officials, extending ethical rules into the digital asset space. It may also influence ongoing discussions around the bipartisan stock trading bill and prompt broader calls for disclosure and trading restrictions in Congress.
Critics may point to Khanna's own trading activity as a potential point of contention, raising questions about whether the bill would apply retroactively or only affect future trades. Supporters, meanwhile, argue that comprehensive restrictions are necessary to restore public trust and prevent conflicts of interest at the highest levels of government.
Final Thought
The debate is part of a larger national conversation about transparency and ethics in politics. While US lawmakers have long faced scrutiny over stock trades, the emergence of cryptocurrencies introduces new risks. Digital assets can move rapidly across borders, are less regulated, and have historically been susceptible to fraud or manipulation.
Khanna's legislation could pave the way for stricter governance around crypto holdings in public office, potentially setting a standard for other nations as well.
