US Representative Ro Khanna announced plans to introduce legislation aimed at stopping elected officials — including US President Donald Trump members of Congress and their families — from trading or creating cryptocurrencies and from taking certain foreign 0 move comes amid renewed scrutiny over political ties to the crypto industry and follows high-profile developments this year that have focused attention on possible conflicts of 1 Announces New Measure 2 Crypto Trading Khanna said the proposal would bar the president his family members of Congress and other elected officials from owning
issuing or trading crypto while in 3 tied the push to what he called a troubling series of events involving crypto executives and presidential actions that in his view raise serious ethics 4 note Khanna previously backed efforts to curb stock trading by lawmakers through the 2023 Ban Congressional Stock Trading Act and his latest move widens the scope to digital 5 And Investigations Have Ramped Up According to media coverage
other Democratic lawmakers have already sought records tied to the Trump family’s crypto venture asking the Securities and Exchange Commission to preserve documents as part of probes into possible 6 request dates to April 2 2025 and reflects a broader push to trace money and influence around political figures and crypto 7 To Pardons And Funding Khanna and others have pointed to Trump’s pardon of Binance founder Changpeng Zhao as a catalyst for action
saying the move highlighted how political decisions and crypto industry relationships can mix in ways that undermine public 8 reporting has put large sums and potential deals in the spotlight: one report cited a possible Trump-linked stablecoin arrangement that could have been worth as much as $2 billion a figure that has helped drive urgency among 9 the same time fact checks show parts of the public discussion have been misstated; for instance the particulars of Zhao’s legal outcome were clarified in follow-up 10 The Law Would Do Based on reports
the draft language would force covered officials to divest digital assets refrain from creating tokens while they hold office and avoid taking foreign funding tied to crypto 11 versions of related proposals in Congress also seek to extend trading bans to stocks and other securities for top 12 have filed multiple bills this year that address similar aims and 13 records show measures on digital asset limits and on broader stock-trading bans circulating in the 119th 14 image from Kevin Dietsch/Getty Images
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