California lawmaker Ro Khanna proposes a resolution to ban politicians from issuing and trading digital assets

According to ChainCatcher, citing Fox News, California Democratic Congressman Ro Khanna has proposed and is promoting a resolution that supports House legislation to prohibit the President, Vice President, members of Congress, candidates for public office, public officials, senior executive branch employees, special government employees, and their immediate family members from issuing, sponsoring, or endorsing digital assets (including cryptocurrencies, meme coins, stablecoins, tokens, NFTs, digital trading cards, and DeFi platforms).

The resolution also advocates requiring elected officials, candidates, and their immediate family members to transfer their digital assets into a blind trust, which cannot be accessed during the politician's candidacy, tenure, and for two years after leaving office. The resolution further supports requiring politicians, candidates, and their families to "fully and promptly disclose all cryptocurrency transactions."

Fox News reported that, since the Republican Party currently holds the majority in the House of Representatives, the resolution is unlikely to pass in the House. Furthermore, even if the resolution is approved, its contents would still need to go through the legislative process to be incorporated into law.