"The proposal follows President Donald Trump's pardon of Binance founder Changpeng Zhao and seeks to eliminate what Khanna calls "blatant corruption" at the intersection of politics and crypto. "The pardon of Zhao is corrupt," Khanna said on MSNBC. "You've got a foreign billionaire engaged in money laundering and financing terrorism, who supports the president's son's cryptocurrency firm, and then the president pardons him. This is corruption in plain sight.""
"Zhao, the co-founder and former CEO of Binance, served four months in prison after pleading guilty to violating U.S. banking laws. His company was accused of allowing illicit money flows linked to child exploitation, drug trafficking, and terrorism. Soon after Zhao's financial backing of World Liberty Financial - the crypto project founded by Donald Trump Jr. and Eric Trump - was revealed, Trump granted him a pardon."
Congressman Ro Khanna introduced legislation to prohibit the U.S. President, members of Congress, and their immediate families from owning, trading, or creating cryptocurrencies while in office. The measure would bar elected officials and their families from holding or issuing cryptocurrencies and from accepting foreign-backed crypto investments. The initiative aims to rebuild public trust and prevent policymakers from profiting from technologies they regulate. The proposal follows President Trump's pardon of Binance founder Changpeng Zhao and targets perceived entanglement between political leaders and crypto financiers, mirroring previous calls to limit lawmakers' personal financial dealings in digital assets.
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