Peter Zhang
Oct 28, 2025 12:18
US Consultant Ro Khanna plans to introduce a invoice prohibiting politicians from proudly owning cryptocurrencies, following Trump’s pardon of Binance’s Changpeng Zhao.
In a daring legislative transfer, US Consultant Ro Khanna (D-Calif.) has introduced plans to introduce a invoice geared toward prohibiting politicians from proudly owning or creating cryptocurrencies. This growth follows the controversial resolution by former President Donald Trump to pardon Binance founder Changpeng Zhao, generally often called CZ, in response to CryptoNews.
Khanna’s Legislative Proposal
Khanna’s proposed laws seeks to handle what he perceives as a battle of curiosity and potential corruption involving elected officers and digital property. He argues that lawmakers needs to be barred from holding cryptocurrencies and accepting international funds, citing allegations of economic ties between Zhao and the Trump household’s crypto enterprise, World Liberty Finance.
In a current interview on MSNBC’s Morning Joe, Khanna accused Trump of participating in “blatant corruption,” suggesting Zhao had monetary involvement with illicit actions together with funneling cash to Hamas, Iran, and baby abusers. Zhao, who beforehand pleaded responsible to money-laundering violations, was granted a pardon after serving a short jail time period.
Particulars of the Proposed Invoice
The upcoming invoice is meant to increase the provisions of Khanna’s 2023 Ban Congressional Inventory Buying and selling Act, which aimed to limit members of Congress from buying and selling particular person shares. Though that invoice stalled in committee, it sparked discussions on enhancing monetary ethics for public officers. Khanna’s new proposal would require lawmakers to divest from digital property or place them in blind trusts to keep away from conflicts of curiosity.
Khanna emphasised, “This isn’t a tech subject. This can be a corruption subject. It’s cash going into somebody on the White Home, and the White Home taking official actions like pardons in change.”
Binance’s Potential US Market Re-entry
Concurrent with these developments, Binance is reportedly exploring choices to re-enter the US market following Zhao’s pardon. In keeping with Bloomberg, the change is contemplating methods akin to merging its US affiliate with its international platform or permitting its foremost change to function immediately within the US. Zhao’s clemency has eliminated earlier authorized obstacles, doubtlessly facilitating Binance’s growth within the American market.
Zhao stays a major determine within the crypto trade, with a reported internet price of $61.4 billion and an ecosystem managing $8.7 billion in on-chain property. The pardon has reignited scrutiny over Binance’s $2 billion cope with the Trump family-backed World Liberty Monetary, amidst experiences of considerable earnings from the household’s crypto ventures.
Because the political and monetary implications of those occasions unfold, Khanna’s proposed laws highlights the continued debate over the intersection of politics and digital property, underscoring the rising unease in Washington.
Picture supply: Shutterstock
