The growing pro-crypto atmosphere in the US is being welcomed by several politicians, blockchain companies, and institutions. However, at the same time, some intellectual figures are pointing out the need for legislation to restrict crypto trading. Now, US Congressman Ro Khanna has fresh plans to introduce a bill just to ban President Donald Trump and other Congress members from trading crypto!
Why does Ro Khanna want the bill?
Last week, Khanna announced that he would bring forth a bill to prevent corruption in crypto trading. He explicitly wrote: “We have a president who is building more wealth through his office than any in history. We cannot turn a blind eye to this corruption.”
The bill targets the President, his family, and other Congress members from trading in crypto and accepting money from foreign entities. Through the legislation, the Congressman also aims to prevent similar cases in the future.
Why Khanna moved to ban crypto trading in Congress
Ro Khanna didn’t propose the bill out of nowhere. It was fueled by Trump’s pardon of Binance founder Changpeng Zhao (CZ) last week, following the 2023 money laundering case. The pardon led to backlashes from several Democrats who decried, saying Trump is favoring powerful criminals.
Among the rising voices from Democrats stands Ro Khanna’s, who described Trump’s pardon a “blatant corruption”. As critics noted, the pardon occurred due to a connection between Trump’s family and CZ through World Liberty Financial (WLFI), a Trump-affiliated crypto firm that received support from Binance.
In short, this is the core reason that made Khanna introduce the legislation.
The bill restricts more than crypto trading
Speaking about the new legislation on a news channel, Ro Khanna boldly remarked that the ban would not be limited only to crypto but would also cover stock trading. His idea is to ban both stock and crypto trading for members while in office.
Ritchie Torres’ Strop Trump in Crypto Act
Before the stringent move of Ro Khanna, there was another bill reportedly introduced by US Representative Ritchie Torres in May 2025. The idea: prohibit federal officials from trading or owning crypto while in office. This bill, described as the Stop TRUMP in Crypto Act, would ban the President, Vice President, Congress members, and their families from offering, holding, or earning profits from digital assets.
Bipartisan battle continues
The GENIUST Act, STABLE Act, CLARITY Act, Strategic Bitcoin Reserve, and more have marked the pro-crypto initiatives of the US, besides institutions, banks, and millionaires building their empire in the country. When some Democrats find Trump’s action corrupt and opportunistic, Republicans see a scope for the US becoming a global crypto leader.
As the government shutdown nears one month, Democrats etched into an official statement, rather than looking for a negotiation, Trump is “doing massive favors for crypto criminals who have helped line his pockets.”
