RELEASE: REP. KHANNA ANNOUNCES BAN CRYPTO CORRUPTION LEGISLATION FOLLOWING TRUMP’S PARDON OF FORMER BINANCE CEO

Washington, DC - Today, Representative Ro Khanna (CA-17) announced that he will introduce a Ban Crypto Corruption resolution following President Trump's pardon of Changpeng Zhao, the co-founder and former CEO of Binance.

"Trump pardoned a convicted foreign billionaire who supported the Trump family's cryptocurrency. This is blatant corruption. The Ban Crypto Corruption legislation simply stops elected officials from profiting from crypto and eliminates conflicts of interest. No one should go into public service to make a profit," said Rep. Ro Khanna.

The Ban Crypto Corruption legislation will:

• Prohibit the issuance, sponsoring or endorsing of digital assets (including cryptocurrency, meme coins, stablecoins, tokens, NFTs, digital trading cards, and decentralized finance platforms) by the President, Vice President, Members of Congress, candidates for public office, elected public officials, high-ranking executive branch employees and special government employees, and the immediate family members of each of these.
• Require politicians and their immediate family members to place any digital assets they hold in a qualified blind trust inaccessible during their candidacy, public service, and 2 years after an individual's service.
• Prohibit foreign investment in any digital assets issued, promoted, or controlled by politicians and their immediate family.
• Mandate the full and timely disclosure of all cryptocurrency transactions by politicians and their immediate family.
• Establish civil and criminal penalties for violations.

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