October 28, 2025 | Washington, D.C. — U.S. Representative Ro Khanna announced plans to introduce legislation that would ban elected officials from owning or creating cryptocurrencies, citing concerns over conflicts of interest and foreign financial influence.
The announcement comes in the wake of President Trump’s pardon of Binance founder Changpeng Zhao, which Khanna criticized as “illegal” and “blatant corruption.” The congressman alleged that the pardon was connected to Zhao’s support of crypto ventures tied to Trump.
Khanna stressed the need for legal safeguards to prevent elected officials from holding cryptocurrency or accepting foreign funds, asserting that such measures are essential to protect the integrity of U.S. politics.
The move adds to growing scrutiny of Trump’s crypto-related activities, including ventures reportedly generating over $1 billion this year, spanning stablecoins, digital trading cards, and tokens tied to World Liberty Financial. While the White House maintains there is no conflict of interest, lawmakers like Senator Elizabeth Warren have increasingly called for oversight.
