Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Democratic Anti-Crypto Legislation Ignites Partisan Clash Over Connections to Trump

Democratic Anti-Crypto Legislation Ignites Partisan Clash Over Connections to Trump

Bitget-RWA2025/11/01 11:20
By:Bitget-RWA

- U.S. Democrats, led by Rep. Ro Khanna, introduced a bill to ban elected officials from crypto/NFTs and mandate asset disclosure, targeting Trump’s pro-crypto ventures. - The bill accuses Trump’s family of leveraging their influence to promote unregulated crypto projects, citing World Liberty Financial’s ties to Binance’s Zhao. - Partisan clashes intensify as Trump pardoned Zhao, boosting BNB/BNB, while New Hampshire’s crypto mining deregulation stalled over environmental concerns. - Senator Warren critic

Democratic lawmakers in the United States have put forward a

designed to limit the reach of digital currencies among government officials and their relatives. Opponents claim the legislation is a direct attack on President Donald and his crypto-related activities. Spearheaded by Representative Ro Khanna (D-Calif.), the bill would bar public officials from participating in cryptocurrencies, memecoins, stablecoins, NFTs, and decentralized finance (DeFi) platforms during their tenure. It also requires that officials place their digital holdings in "blind trusts" both while in office and after, and demands complete transparency for all crypto dealings.

Democratic Anti-Crypto Legislation Ignites Partisan Clash Over Connections to Trump image 0

Khanna, who has openly criticized Trump's involvement with crypto, claims the measure is meant to prevent conflicts of interest and unethical financial gains. "No one should use public office for personal enrichment," he said, referencing the Trump family's participation in ventures such as

(WLFI), a digital asset project associated with Binance founder Changpeng Zhao. The legislation also accuses the Trump family of using their influence to endorse a "murky and mostly unregulated network" of crypto businesses.

This initiative is part of a larger Democratic push to reverse Trump-era crypto-friendly policies. Just last month, Trump granted a pardon to Zhao, who had admitted guilt in anti-money laundering cases—a decision Khanna denounced as "outright corruption." The White House justified the pardon, saying it ended the Biden administration's "anti-crypto war" and reestablished American leadership in technological innovation. "The previous administration's extreme stance harmed the nation's reputation worldwide," said White House spokesperson Karoline Leavitt.

Although the bill is expected to face significant resistance in the Republican-controlled House, it highlights the growing partisan conflict over digital asset regulation. In a related development, Trump's pick to lead the Commodity Futures Trading Commission (CFTC),

, a lawyer supportive of crypto, has vowed to focus on digital assets, suggesting a possible move toward more industry-friendly rules.

The Democratic initiative comes as crypto-focused legislation gains momentum in other states. In New Hampshire,

was halted following public concern about environmental consequences. House Bill 639, introduced by Republican Rep. Keith Ammon, aimed to prevent local governments from limiting mining operations and to establish a court docket dedicated to blockchain issues. However, a Senate committee voted 4–2 to send the bill for further review due to worries about energy use.

At the same time, the discussion over including crypto in retirement accounts has intensified. Senator Elizabeth Warren (D-Mass.)

that permitted 401(k) plans to invest in cryptocurrencies, labeling them "shadowy markets" that lack adequate protections. "We can't allow Wall Street to risk Americans' retirement savings," she posted on X, echoing bipartisan apprehensions about safeguarding investors.

Khanna's proposal also ties into ongoing debates in Congress about openness. He has teamed up with Republican Rep. Thomas Massie to push a discharge petition that would force a vote on making classified Jeffrey Epstein documents public,

, comparing it to the accountability measures taken in the U.K. after Prince Andrew lost his royal title. "Wealthy and influential men in America enjoy protections that go beyond those of British royalty," Massie wrote on X, drawing connections between Epstein-related crypto circles and political immunity.

With the 2026 elections drawing near, cryptocurrency regulation is becoming a central issue. Following Trump's pardon of Zhao, Binance's BNB token

surged by 8%, also boosting WLFI's market value. Critics caution that this could open the door to foreign interference and regulatory capture. "This is not about party politics—it's about fairness and openness," Khanna emphasized, presenting the bill as a response to what he described as a "culture of impunity" among the powerful.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Latin America's rapid adoption of stablecoins establishes a new benchmark for international payments

- Argentina's Ripio launched wARS, a peso-pegged stablecoin on Ethereum, Base, and World Chain to streamline Latin American cross-border payments. - The stablecoin enables 24/7 low-cost transfers, bypassing traditional banking intermediaries and U.S.-dollar dependencies in Argentina and Brazil. - Latin America's $27 trillion 2024 stablecoin volume outpaces major card networks, positioning the region as a global leader in blockchain-based remittances. - Ripio plans to expand local-currency stablecoins acros

Bitget-RWA2025/11/01 16:34
Latin America's rapid adoption of stablecoins establishes a new benchmark for international payments

Ethereum Updates: Buterin's Support Fuels ZK Token Rally, Elevates Ethereum as a Leading Liquidity Hub

- ZK token surged over 50% to $0.045 on November 1, 2025, driven by Ethereum co-founder Vitalik Buterin's endorsement. - ZKsync's Atlas upgrade introduced 30,000 TPS sequencer and Airbender system, enhancing Ethereum's scalability and cross-chain liquidity. - Matter Labs plans ZK governance token airdrop (33% to team/investors) to decentralize ZKsync and boost institutional adoption. - Analysts highlight 15,000 TPS and near-zero fees as key advantages positioning ZKsync for enterprise and real-time financi

Bitget-RWA2025/11/01 16:34
Ethereum Updates: Buterin's Support Fuels ZK Token Rally, Elevates Ethereum as a Leading Liquidity Hub

Berkshire’s Cash Reserves Increase While Shares Decline: Could the Incoming CEO Initiate a New Strategy?

- Berkshire Hathaway has net sold stocks for three years, holding $381.67B cash as Buffett steps down in 2025. - Q3 operating profit rose 34% to $13.49B, driven by insurance gains, but stock lagged S&P 500 by 12%. - Greg Abel's leadership transition faces pressure to diversify capital use amid $381B cash hoard and no buybacks since 2020. - Buffett's "cash-equivalent" philosophy contrasts with market demands for action as the "Buffett premium" erodes.

Bitget-RWA2025/11/01 16:34
Berkshire’s Cash Reserves Increase While Shares Decline: Could the Incoming CEO Initiate a New Strategy?

Bitcoin News Today: Ideal Mix of Economic Factors Drives Bitcoin’s Push for a November Surge

- Bitcoin's November history of 42.49% average gains since 2013 positions it as a key bullish period, with 2025 following the trend after October's 4.5% drop. - Macro factors like Fed rate cuts and U.S.-China cooperation create a "perfect storm" for a November breakout, supported by Bitcoin reclaiming its 200-day EMA. - However, a 5-week U.S. government shutdown and ETF outflows, including BlackRock's $2.6B exit, highlight regulatory and liquidity risks amid mixed market sentiment. - Historical seasonality

Bitget-RWA2025/11/01 16:20
Bitcoin News Today: Ideal Mix of Economic Factors Drives Bitcoin’s Push for a November Surge