Rep. Ro Khanna, Democrat of California, defends former President Joe Biden’s energy policies and discusses the implications of the government shutdown on “Mornings with Maria.”
Rep. Ro Khanna, Democrat of California, is proposing a resolution that would declare, in part, the House’s support for legislation prohibiting the president and others from issuing, sponsoring or endorsing cryptocurrencies and other digital assets.
“No one should hold elected office to profit from their position,” Khanna told Fox News Digital in a phone call Wednesday.
The resolution, if passed, would declare the lower house’s support for legislation prohibiting “the issuance, sponsorship, or endorsement of digital assets (including cryptocurrency, memecoins, stablecoins, tokens, non-fungible tokens (NFTs), digital trading cards, and decentralized financial platforms) by the President, Vice President, Members of Congress, candidates for public office, elected officials, high-ranking executive branch employees, and special government employees, as well as the immediate family members of each of them.
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Rohit Khanna, Democratic member of the House Armed Services Committee, attends a news conference at the U.S. Embassy in Beijing on September 23, 2025. (PEDRO PARDO/AFP via Getty Images / Getty Images)
The resolution would also advocate for legislation requiring elected officials, candidates and their next of kin transfer their digital assets into a blind trust that is “inaccessible” during the politician’s candidacy, his term in office and two years afterward.
He would also support requiring “full and timely disclosure of all cryptocurrency transactions” by politicians, candidates and their families, and express the House’s support for banning foreign investment in digital assets related to these individuals.
The resolution targets the digital asset transactions of President Donald Trump and his family, claiming that “members of President Trump’s family have built a network of opaque and largely unregulated crypto businesses, including digital trading cards, memecoins, stablecoins, tokens, and decentralized finance platforms linked to their names and likenesses.”
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U.S. President Donald Trump speaks to reporters aboard Air Force One en route to South Korea October 29, 2025 in Japan. (Andrew Harnik/Getty Images/Getty Images)
The president “used the powers of his office and access to promote and increase the value of his crypto projects” and “substantial foreign investment has flowed into Trump-linked crypto projects from entities linked to foreign countries,” the resolution asserts.
It also highlights Trump’s recent decision to pardon the co-founder and former CEO of cryptocurrency exchange Binance, Changpeng Zhao.
White House Press Secretary Karoline Leavitt responded to the resolution in a statement to Fox News Digital.
“President Trump exercised his constitutional authority by granting a pardon to Mr. Zhao, who was prosecuted by the Biden administration in its war on cryptocurrency,” Leavitt said. “In its desire to punish the cryptocurrency industry, the Biden administration pursued Mr. Zhao despite the lack of allegations of fraud or identifiable victims.”
“The Biden administration sought to imprison Mr. Zhao for three years, a sentence so far outside the sentencing guidelines that even the judge said he had never heard of it in his 30-year career,” she continued. “These actions by the Biden administration have seriously damaged the United States’ reputation as a global leader in technology and innovation. The Biden administration’s war on crypto is over.”
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The U.S. Capitol seen at dusk on June 9, 2025 in Washington, DC (Kevin Carter/Getty Images / Getty Images)
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The GOP currently holds the majority in the House, making it unlikely that the resolution, which specifically calls out the president, will pass the House.
Although the resolution provides a messaging mechanism, passage of detailed legislation would be necessary to actually add the elements addressed in the resolution into law.
