U.S. Congressman plans to introduce a bill that would bar the president from trading or creating cryptocurrencies.
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U.S. Congressman Ro Khanna is planning to introduce a bill that would prevent President Donald Trump, his family, and all members of Congress from participating in trading, owning, or creating cryptocurrencies. Khanna’s proposal follows a sustained backlash over the recent pardoning of Binance’s former CEO and founder Changpeng Zhao (CZ). CZ served four months in prison after being convicted of violating anti-money laundering laws in the U.S. Khanna revealed yesterday, through an interview, that the pardon was corrupt and accused the Trump administration of deep ethical breaches that involve the President’s family crypto interests. Ro Khanna slams Trump’s pardon of Binance’s CZ as corruption In an interview with MSNBC, Ro Khanna, a U.S. Congressman, announced legislation that would extend existing restrictions on stock trading for public officials to include digital assets and tokenized projects. This means that elected leaders’ spouses and immediate family members will not hold or launch cryptocurrency ventures while in office. “This is blatant corruption. You don’t need to know a lot about cryptocurrency to understand what went on here. A convicted billionaire who funneled money to terrorists and child abusers gets pardoned after financially backing the president’s son’s crypto company.” –Ro Khanna, U.S. Congressman The ongoing backlash arose on October 24th when Trump decided to grant a full pardon to CZ after months of political lobbying and deliberation. Cryptopolitan reported that Binance had spent months crafting relationships with Trump’s inner circle and even offered technical support for World Liberty Financial, Trump’s family crypto firm. According to the report, Binance allegedly hired lobbyist Ches McDowell to help sway the President’s perception of Zhao’s conviction, arguing that the prosecution made under Biden’s administration was politically motivated. Karoline Leavitt, the White House’s press secretary, defended the president’s decision, noting that Biden’s administration’s war on crypto is over. Zhao expressed…
