A California lawmaker aims to prevent President Donald Trump, his family, and Congress from engaging in cryptocurrency and stock trades.

US Representative Ro Khanna, a Democrat from California’s 17th District and the vice-chair of the Congressional Progressive Caucus, mentioned his concerns regarding Trump’s alleged conflict of interest with cryptocurrency due to his son’s project, World Liberty Financial.

Khanna stated that the recent pardon of Binance co-founder Changpeng “CZ” Zhao represented flagrant corruption.

“You’ve got a foreign billionaire who was basically engaged in money laundering,” Khanna remarked, adding that this occurred after CZ reportedly funneled money to terrorists while seeking a pardon from Trump.

In response to similar allegations from Senator Elizabeth Warren, CZ contended that she distorted the facts.

Khanna brought attention to the accusations that Zhao benefited from Binance’s support for World Liberty, a point also made by Congresswoman Maxine Waters.

“He says, ‘I’m going to support World Liberty,’ which is the president’s son’s cryptocurrency firm… While Donald Trump pardons him, he is financing Donald Trump’s cryptocurrency stablecoin,” Khanna underscored.

Although Trump’s association with World Liberty has been scrutinized, his son, Eric Trump, has repeatedly stated that his father isn’t involved in their businesses.

Despite not detailing his bill proposal, Khanna emphasized the necessity for a ban on all elected officials having cryptocurrency investments and accepting foreign funding.

According to government records, Khanna’s bill has yet to be officially presented.

Banning Government Officials from Trading

The debate on whether officials can invest in markets has gained traction, notably with a congressional stock trading bill pending a vote.

While Khanna criticizes Trump’s crypto links, he himself has engaged in substantial stock trading, totaling $80.3 million in 2025 alone, highlighting potential hypocrisy. Recordings indicate Khanna has conducted over 35,000 trades worth more than $580 million since taking office in 2017, with a focus on financials, information technology, and healthcare sectors.