Khanna said the proposal would bar the president, his family, members of Congress and other elected officials from owning, issuing or trading crypto while in office.
He tied the push to what he called a troubling series of events involving crypto executives and presidential actions that, in his view, raise serious ethics questions.
According to media coverage, other Democratic lawmakers have already sought records tied to the Trump family’s crypto venture, asking the Securities and Exchange Commission to preserve documents as part of probes into possible conflicts.
That request dates to April 2, 2025, and reflects a broader push to trace money and influence around political figures and crypto firms.
Some reporting has put large sums and potential deals in the spotlight: one report cited a possible Trump-linked stablecoin arrangement that could have been worth as much as $2 billion, a figure that has helped drive urgency among critics.
At the same time, fact checks show parts of the public discussion have been misstated; for instance, the particulars of Zhao’s legal outcome were clarified in follow-up coverage.
Based on reports, the draft language would force covered officials to divest digital assets, refrain from creating tokens while they hold office, and avoid taking foreign funding tied to crypto ventures.
Some versions of related proposals in Congress also seek to extend trading bans to stocks and other securities for top officials.
Lawmakers have filed multiple bills this year that address similar aims, and Congress.gov records show measures on digital asset limits and on broader stock-trading bans circulating in the 119th Congress.
Featured image from Kevin Dietsch/Getty Images, chart from TradingView
