Democratic Anti-Crypto Legislation Ignites Partisan Clash Over Connections to Trump
- U.S. Democrats, led by Rep. Ro Khanna, introduced a bill to ban elected officials from crypto/NFTs and mandate asset disclosure, targeting Trump’s pro-crypto ventures. - The bill accuses Trump’s family of leveraging their influence to promote unregulated crypto projects, citing World Liberty Financial’s ties to Binance’s Zhao. - Partisan clashes intensify as Trump pardoned Zhao, boosting BNB/BNB, while New Hampshire’s crypto mining deregulation stalled over environmental concerns. - Senator Warren critic
Democratic lawmakers in the United States have put forward a
Khanna, who has openly criticized Trump's involvement with crypto, claims the measure is meant to prevent conflicts of interest and unethical financial gains. "No one should use public office for personal enrichment," he said, referencing the Trump family's participation in ventures such as
This initiative is part of a larger Democratic push to reverse Trump-era crypto-friendly policies. Just last month, Trump granted a pardon to Zhao, who had admitted guilt in anti-money laundering cases—a decision Khanna denounced as "outright corruption." The White House justified the pardon, saying it ended the Biden administration's "anti-crypto war" and reestablished American leadership in technological innovation. "The previous administration's extreme stance harmed the nation's reputation worldwide," said White House spokesperson Karoline Leavitt.
Although the bill is expected to face significant resistance in the Republican-controlled House, it highlights the growing partisan conflict over digital asset regulation. In a related development, Trump's pick to lead the Commodity Futures Trading Commission (CFTC),
The Democratic initiative comes as crypto-focused legislation gains momentum in other states. In New Hampshire,
At the same time, the discussion over including crypto in retirement accounts has intensified. Senator Elizabeth Warren (D-Mass.)
Khanna's proposal also ties into ongoing debates in Congress about openness. He has teamed up with Republican Rep. Thomas Massie to push a discharge petition that would force a vote on making classified Jeffrey Epstein documents public,
With the 2026 elections drawing near, cryptocurrency regulation is becoming a central issue. Following Trump's pardon of Zhao, Binance's BNB token
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.
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