Khanna Calls for Trump Crypto Ban After Alleged Ties to Binance Founder’s Pardon

Highlights:

• Ro Khanna has proposed a crypto ban to stop Trump and other officials from trading digital assets and stocks.
• Khanna has criticized Trump’s family crypto ties and has called for stronger rules on foreign money influence.
• Zhao’s pardon sparks debate over conflicts of interest in crypto ventures linked to US lawmakers.

US Representative Ro Khanna has called for a complete ban on President Donald Trump, his family, and members of Congress from trading cryptocurrencies or stocks. He made the remarks during an appearance on MSNBC, where he raised concerns about conflicts of interest involving Trump’s family and their crypto ventures. Khanna accused Trump of showing favoritism toward Binance founder Changpeng “CZ” Zhao, who recently received a presidential pardon.

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🚨 JUST IN: 🇺🇸 Rep. Ro Khanna to introduce bill banning the President and all elected officials from owning or trading crypto.pic.twitter.com/iX4XDLuPoU

— Crypto India (@CryptooIndia) October 28, 2025

“You have a foreign billionaire involved in money laundering asking for a pardon after funding terrorism,” Khanna said. He further claimed that Zhao supported Trump’s son’s crypto firm, World Liberty Financial (WLFI), which has made millions while Trump is president. According to Khanna, the pardon represented “blatant corruption” and showed the danger of political involvement in crypto markets.

CZ admitted breaching the Bank Secrecy Act by failing to maintain an effective Anti-Money Laundering program at Binance. Nevertheless, he rejected the allegations concerning the accusations of Khanna and other legislators. Zhao also replied to similar claims by Senator Elizabeth Warren, who said that she cannot get her facts straight. Nevertheless, Khanna still asserted that strict regulations on officials who trade or advocate cryptocurrencies should be enforced.

A US Senator can't get her facts right, in a public post about a person's charge. There were NO money laundering changes.

The same Senator declared "war on crypto", on public TV, 5 days before my sentencing, during the Biden Admin.

Need a better example of weaponization of… https://t.co/87gTMP6mcn pic.twitter.com/4j1Us48Nop

— CZ 🔶 BNB (@cz_binance) October 24, 2025

Trump Crypto Ban Gains Attention Amid CZ Pardon Controversy

Khanna’s remarks reignited political debate around Trump’s ties to the crypto industry. Lawmakers questioned whether foreign influence has benefited Trump’s family businesses, including WLFI. Trump’s son Eric Trump denied any direct link between his father and WLFI, saying the president “is running a nation” and has no involvement in family ventures.

The controversy intensified after Zhao’s pardon, which Khanna and other Democrats viewed as unethical. Senator Maxine Waters echoed his concerns, suggesting the pardon was politically motivated. Nevertheless, the White House denied wrongdoing and said legal advice guided the fair ruling. Trump defended the pardon, saying he aimed to correct what he described as unfair treatment of crypto companies under the previous administration.

At the same time, the Trump family’s crypto ventures have grown significantly. Reports say their digital assets, including meme coins, NFTs, and the WLFI token, earned them over $1 billion this year. The lawmakers claim that this type of business by a sitting president presents a conflict of interest.

New Push to Restrict Lawmakers’ Crypto Involvement

Khanna said elected leaders must focus on governance rather than personal profit. His proposal would also stop them from accepting foreign money through crypto investments. While Khanna’s bill has not yet been officially introduced, it has drawn attention from both parties.

The debate follows another Democratic effort known as the Curbing Officials’ Income and Nondisclosure (COIN) Act. The bill is sponsored by Senator Adam Schiff and nine other lawmakers and seeks to prohibit government officials from promoting or trading crypto assets. Supporters of the bill believe that the move will restore the lost faith and impose accountability. However, critics doubt that lawmakers who stand to gain financially could enforce such rules impartially.

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