Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
US Lawmaker Seeks to Ban Trump and His Family From Trading Crypto or Stocks

US Lawmaker Seeks to Ban Trump and His Family From Trading Crypto or Stocks

CointribuneCointribune2025/10/28 21:21
By:Cointribune
Summarize this article with:
ChatGPT Perplexity Grok

A Democratic legislator launches heavy artillery against the American president’s crypto activities. Ro Khanna proposes to purely and simply ban Donald Trump, his family and all elected officials from trading cryptos and stocks. An initiative that rekindles the debate on conflicts of interest at the top of the American state.

US Lawmaker Seeks to Ban Trump and His Family From Trading Crypto or Stocks image 0 US Lawmaker Seeks to Ban Trump and His Family From Trading Crypto or Stocks image 1

In brief

  • Democratic Representative Ro Khanna is drafting a bill to ban U.S. lawmakers from trading stocks and cryptocurrencies.
  • Trump is targeted for his alleged ties to World Liberty Financial, his son’s crypto project that reportedly generated millions of dollars.
  • The pardon granted to Binance founder Changpeng Zhao has fueled accusations of “blatant corruption.”
  • This proposal aligns with Senator Adam Schiff’s COIN Act, which specifically seeks to prevent the Trump family from “financially exploiting” cryptocurrencies.

Congress wants to cut Trump off from his activities in the crypto sector

Ro Khanna, Democratic representative from California and vice president of the Congressional Progressive Caucus, launched a frontal attack against Donald Trump during an appearance on MSNBC. The legislator denounces what he considers “blatant corruption”: the presidential pardon granted to Changpeng Zhao, co-founder of Binance.

“You’ve got a foreign billionaire who was basically engaged in money-laundering“, hammered the California representative.

For him, the timing is no coincidence. CZ had pleaded guilty in 2023 to violating US banking law, having failed to implement an effective anti-money laundering program at Binance. Then Binance financially supported WLFI. And finally, Trump pardoned him .

The causal link seems clear to Khanna. He claims that CZ now finances the stablecoin of the president’s son’s company, which generates “millions of dollars under Donald Trump’s presidency.” This accusation echoes concerns expressed by Representative Maxine Waters.

However, Eric Trump has always categorically denied any involvement of his father in the project, recalling last September that the president “runs a nation” and has “no connection” with their business activities.

For his part, Ro Khanna concluded his intervention with an unequivocal call : banning any elected official from holding cryptos or accepting foreign money. A position that is part of a broader offensive led by Democrats to regulate the financial influence of political leaders.

Along the same lines, Senator Adam Schiff has gone further with the COIN Act, a much stricter bill that would ban presidents, vice presidents, and their close relatives from issuing, owning, or supporting cryptos during their entire term—and up to two years after leaving office.

When the guardian of the temple has his hands in the cookie jar himself

The irony of this anti-trading crusade is not without spice. Because while Khanna denounces Trump’s alleged conflicts of interest, his own stock market activities raise embarrassing questions. The Quiver Quant data reveals that the representative made $80.3 million worth of stock trades in 2025 alone.

Since his election in 2017, Khanna has conducted over 35,000 transactions for a volume exceeding $580 million. His preferred sectors? Finance, information technology, and health.

Areas over which, as a legislator, he could potentially exert influence. This potential hypocrisy significantly weakens the impact of his message.

The bipartisan stock trading bill, currently under discussion in Congress, illustrates the complexity of the debate. Should government representatives be allowed to invest in financial markets? The question has long divided opinions, but cryptos add an explosive dimension to this old ethical dilemma.

According to government documents, Khanna’s proposal has not yet been officially filed. And chances of its adoption remain slim given the Republican majority in both chambers. However, this Democratic offensive marks a turning point in the political war surrounding the Trump presidency’s crypto activities .

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Hyperliquid News Today: Bitget Combines Stock and Cryptocurrency Trading to Appeal to International Investors

- Bitget expands crypto trading to include stock contracts for NFLX, FUTU, and JD, bridging traditional and digital asset markets. - Integration of HyperEVM enables $5B onchain ecosystem access, cross-chain transactions, and DeFi interactions via Hyperliquid's infrastructure. - Netflix's inclusion highlights its market resilience ($468B valuation) despite legal scrutiny and regional revenue fluctuations in Q3 2025. - Bitget's strategy aligns with fintech trends, offering institutional-grade tools to crypto

Bitget-RWA2025/10/29 07:32
Hyperliquid News Today: Bitget Combines Stock and Cryptocurrency Trading to Appeal to International Investors

Bitcoin Updates: Bitcoin Holds Steady While Altcoins Struggle in Downward Trend

- Bitcoin maintains neutral funding rates near 0.01%, while altcoins fall below 0.005% as bearish pressure intensifies. - Market divergence stems from Bitcoin's stability amid macroeconomic uncertainty and altcoins facing speculative selling pressure. - Geopolitical tensions and U.S. government shutdown drive risk-off sentiment, pushing investors toward Bitcoin as crypto's safe haven. - Altcoin bearishness worsens with regulatory uncertainties and capital shifting to high-growth DeFi projects like Mutuum F

Bitget-RWA2025/10/29 07:18
Bitcoin Updates: Bitcoin Holds Steady While Altcoins Struggle in Downward Trend

Bitcoin Updates Today: With AI Transactions Surging, Is Blockchain Able to Expand While Maintaining Security?

- U.S.-China trade framework by Treasury Secretary Bessent boosts crypto markets, with Bitcoin up 1.8% and Ethereum 3.6% as Trump’s tariffs threat eases. - Institutional investors favor Ethereum’s energy-efficient PoS upgrades over Bitcoin, with 3.2M ETH held by firms like Bitmine. - Solana leads onchain app revenue (53%) and developer growth, while stablecoins process $46T annually, dominating 87% of the market. - Blockchain scalability faces scrutiny as networks handle 3,400 TPS, but security concerns pe

Bitget-RWA2025/10/29 07:04
Bitcoin Updates Today: With AI Transactions Surging, Is Blockchain Able to Expand While Maintaining Security?

Blockchain’s Advancement Drives $30 Billion RWA Boom, Connecting DeFi with Conventional Finance

- USD1Swap partners with MOVA at Dubai Summit to advance digital asset infrastructure via cross-chain RWA tokenization. - RWA market expands to $30B as Oracle/IPDN launch compliant platforms and Maple Finance boosts TVL to $3.1B through yield strategies. - Dubai's fintech partnerships and AI-driven innovation aim to position the city as a global digital asset hub amid DeFi-traditional finance convergence.

Bitget-RWA2025/10/29 06:50
Blockchain’s Advancement Drives $30 Billion RWA Boom, Connecting DeFi with Conventional Finance