Quick Breakdown
- Ro Khanna plans to introduce a bill banning lawmakers from owning or creating cryptocurrencies.
- The move follows Trump’s pardon of Binance founder Changpeng Zhao, which Khanna labeled “corrupt.”
- Trump’s crypto ventures, valued at over $1 billion, continue to face scrutiny amid conflict-of-interest concerns.
Khanna proposes crypto ban for lawmakers after Trump’s CZ pardon
U.S. Representative Ro Khanna has announced plans to introduce a bill that would prohibit elected officials from owning or creating cryptocurrencies, following President Donald Trump’s controversial pardon of Binance founder Changpeng “CZ” Zhao.
The pardon of Zhao is corrupt.
I explain simply what’s going on.
I am today introducing legislation to ban the president, his family, members of Congress, and all elected officials from trading crypto or stocks. @unusual_whales has been sounding the alarm on this for years. pic.twitter.com/OgibgdnqkK
— Ro Khanna (@RoKhanna) October 27, 2025
During a recent interview, the California Democrat condemned the decision as “blatant corruption,” claiming that the pardon was tied to Zhao’s alleged financial support of ventures connected to Trump’s cryptocurrency initiatives.
“You don’t have to be a crypto expert to see what happened here,”
Khanna said, “You’ve got a foreign billionaire who was basically engaged in money laundering, having money go to Hamas, having money go to Iran, having money go to child abusers. He was convicted, he served four years in prison, and then he petitions for a pardon from Donald Trump after funneling money to terrorists.”
False claims and political backlash
Khanna faced backlash after making several inaccurate claims, including that Zhao had been convicted and served four years in prison. Despite this, the congressman maintained that the incident underscores the urgent need for legislation preventing elected officials from “owning crypto or accepting foreign-linked money.”
The lawmaker further alleged that Zhao’s pardon was influenced by his supposed involvement in funding “World Liberty” and “Donald Trump’s stablecoin project,” though no verified evidence supports those claims.
Trump’s crypto ties draw intensified scrutiny
The incident has reignited debates around Trump’s deepening ties to the crypto industry. Lawmakers such as Senator Elizabeth Warren have repeatedly warned of potential conflicts of interest, urging greater transparency on the former president’s blockchain-linked ventures.
Despite growing criticism, the White House has denied any wrongdoing. Trump defended his decision as an effort to correct what he called “the Biden administration’s anti-crypto persecution.”
Reports suggest that the Trump family’s digital asset ventures — including NFT trading cards, meme coins, and World Liberty Financial’s WLFI token — have generated over $1 billion in 2025 alone.
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