US Representative Ro Khanna, a Democrat from California, has publicly urged Congress to prohibit President Donald Trump, his family members, and other government officials from engaging in cryptocurrency and stock trading. Speaking on MSNBC, Khanna highlighted concerns about potential conflicts of interest stemming from Trump’s connection to the crypto sector through his son’s project, World Liberty Financial (WLFI).
Khanna criticized what he described as “blatant corruption” linked to the recent presidential pardon granted to Binance co-founder Changpeng Zhao, commonly known as CZ. The California lawmaker accused CZ of improper activities, alleging that the Binance founder was involved in money laundering and had “funnelled money to terrorists” prior to obtaining the pardon from Trump.
In response to similar allegations from Senator Elizabeth Warren, CZ dismissed the claims, stating that Warren’s accusations were factually incorrect. It is worth noting that CZ has admitted guilt on a single felony count related to violations of the US Bank Secrecy Act, specifically for failing to maintain a robust Anti-Money Laundering (AML) program at Binance.
Khanna further suggested that Binance’s financial support for WLFI played a role in the decision to grant the pardon. This sentiment echoes comments made by Representative Maxine Waters, who has also expressed skepticism about the relationship between Binance and the Trump family’s crypto operations.
According to Khanna, Binance pledged support to World Liberty Financial, a cryptocurrency firm associated with Trump’s son, at a time when the Trump administration was in power. He argued that the pardon effectively let CZ “off the hook” while WLFI allegedly profited millions, raising ethical questions regarding Trump’s role.
President Trump has faced recurring scrutiny over his administration’s ties to WLFI. However, Eric Trump has consistently denied any active involvement of his father in their business ventures. In an interview last September, Eric emphasized that his father “is running a nation” and “is not involved in our businesses in any way, shape or form.”
While Khanna has voiced strong opposition to government officials trading cryptocurrencies and stocks, he has not yet presented specific legislative language for his proposed ban. Nevertheless, he was clear about his goal: to bar elected officials from owning cryptocurrency assets or accepting foreign funding. According to official government records, no bill has been formally introduced on this matter so far.
The broader debate on government officials trading stocks and cryptocurrencies remains ongoing. A bipartisan congressional bill focused on regulating stock transactions by lawmakers is expected to be voted on in the near future. This proposal aims to increase transparency and reduce conflicts of interest in Washington.
It is noteworthy that Rep. Khanna himself has a significant record of stock market activity. Data from Quiver Quant reveals that he has executed approximately $80.3 million in stock trades in 2025 alone and has completed over 35,000 trades totaling more than $580 million in volume since his tenure began in 2017. His trading portfolio prominently features sectors such as financials, information technology, and healthcare.
