New bill seeks to ban Trump from crypto trading, aligning with Senator Schiff’s COIN Act to prevent financial exploitation

Ro Khanna, a Democratic representative and vice president of the Congressional Progressive Caucus, has introduced a bill targeting Donald Trump, proposing a complete ban on crypto and stock trading for him, his family, and all elected officials.

The legislation is linked to concerns over Trump's alleged connections with World Liberty Financial and his son’s crypto venture, which may have yielded millions. Khanna's move follows the spirit of Senator Adam Schiff’s COIN Act, aimed at preventing financial exploitation through cryptocurrencies.

Khanna emphasized the timing of this proposal, connecting it to regulatory challenges in the crypto space. He highlighted past issues where companies failed to meet compliance standards, referencing CZ's guilty plea in 2023 for violations regarding anti-money laundering at Binance.

The push from Khanna and Schiff signifies a growing concern over the intersection of politics and cryptocurrency, particularly relating to influential figures like Trump and the potential for financial conflicts.

Given the increasing scrutiny of the crypto sector, this legislation could have profound implications for oversight and regulation in the financial landscape.

A new bill introduced by Democratic legislator Ro Khanna aims to ban Donald Trump, his family, and all elected officials from trading cryptocurrencies and stocks. This proposal coincides with Senator Adam Schiff's COIN Act, which seeks to curb financial exploitation linked to cryptocurrencies.