TLDR
- US Representative Ro Khanna is pushing for a ban on Donald Trump, his family, and elected officials from trading crypto and stocks.
- Khanna raised concerns about Trump’s ties to the crypto project World Liberty Financial, allegedly involving his son Eric Trump.
- Khanna accused Binance co-founder Changpeng Zhao of seeking a pardon from Trump after funneling money to terrorists.
- Eric Trump has denied any involvement of his father in the WLFI project, calling the allegations false.
- Khanna’s bill has not yet been officially introduced in Congress but has drawn attention to financial transparency for officials.
A US lawmaker is pushing to ban former President Donald Trump, his family, and members of Congress from trading cryptocurrency and stocks. Representative Ro Khanna, a Democrat from California, expressed concerns about potential conflicts of interest involving Trump’s son and his crypto project. Khanna raised the issue during an appearance on MSNBC, where he also questioned the pardon granted to Binance co-founder Changpeng “CZ” Zhao by Trump.
Khanna linked the pardon to Binance’s financial support of Trump’s son’s crypto project, World Liberty Financial (WLFI). He suggested that Binance’s actions were part of a broader pattern of corruption. The lawmaker emphasized that foreign money shouldn’t influence US politics or business decisions, especially regarding cryptocurrencies.
Khanna Calls for Ban on Crypto Investments by Elected Officials
Khanna made it clear that elected officials should be prohibited from holding cryptocurrencies or accepting foreign money. “Any elected official should not have cryptocurrency or accept foreign money,” he said. This statement adds to the growing conversation about ethical standards in the intersection of politics and financial investments.
The call comes amid increased scrutiny of officials’ involvement in crypto and stocks. While Khanna champions this new bill, he has also faced criticism for his own financial activity. Records indicate that Khanna has generated millions in stock trades since assuming office in 2017.
Khanna’s proposal highlights the tension between political transparency and personal wealth accumulation. His recent actions raise questions about the consistency of his own stance on financial investments. The lawmaker’s call for change appears to be an effort to address potential conflicts of interest, specifically within the cryptocurrency space.
Trump’s Involvement with WLFI and the Binance Pardon Controversy
Khanna’s remarks also focused on Trump’s ties to World Liberty Financial (WLFI). The lawmaker accused Trump of using his influence to benefit his son’s project. This claim revolves around the recent pardon granted to CZ, Binance’s co-founder, whom Khanna linked to money laundering activities.
Trump has faced accusations of benefiting from WLFI’s connection to Binance. However, Eric Trump, the son of Trump, has denied any involvement of his father in the business. Eric Trump insisted in a recent interview that his father was focused on his presidential duties, distancing him from the operations of WLFI.
Khanna’s criticisms are tied back to his broader concerns about transparency in cryptocurrency markets. His argument suggests that if WLFI was financially linked to Binance, it could have influenced Trump’s actions while in office. Despite Khanna’s accusations, Trump’s family continues to deny any wrongdoing related to the project.
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