119-hres849

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 849 Introduced in House

    (IH) ]

<DOC>

119th CONGRESS
 1st Session
H. RES. 849

Calling to ban the use of public office for personal enrichment through 
 cryptocurrency ventures and calling for measures to prevent conflicts 
 of interest and foreign influence in politicians' digital asset 
 activities.

_______________________________________________________________________

 IN THE HOUSE OF REPRESENTATIVES

 October 31, 2025

 Mr. Khanna (for himself, Ms. Ansari, Mr. Fields, Mr. McGovern, Ms. 
Norton, Mr. Sherman, Mr. Smith of Washington, Ms. Tlaib, Mr. Tonko, and 
 Mrs. Watson Coleman) submitted the following resolution; which was 
referred to the Committee on Financial Services, and in addition to the 
 Committees on Oversight and Government Reform, House Administration, 
 and the Judiciary, for a period to be subsequently determined by the 
 Speaker, in each case for consideration of such provisions as fall 
 within the jurisdiction of the committee concerned

_______________________________________________________________________

 RESOLUTION

Calling to ban the use of public office for personal enrichment through 
 cryptocurrency ventures and calling for measures to prevent conflicts 
 of interest and foreign influence in politicians' digital asset 
 activities.

Whereas this resolution may be cited as the ``Ban Crypto Corruption 
 Resolution'';
Whereas members of President Trump's family have built a network of opaque and 
 largely unregulated crypto enterprises, including digital trading cards, 
 memecoins, stablecoins, tokens, and decentralized finance platforms tied 
 to their names and likenesses;
Whereas, since first seeking public office, President Donald J. Trump and his 
 family have amassed billions of dollars in wealth from cryptocurrency-
 related ventures and investments;
Whereas President Trump's family amassed up to $5,000,000,000 right after 
 launching a new digital currency while President Trump held office;
Whereas the President's share of Trump Media & Technology Group, the parent 
 company of Truth Social and a Bitcoin treasury business, is now worth 
 $1,900,000,000;
Whereas the President's son, Eric Trump, said the true figure was ``probably 
 more'';
Whereas President Trump pardoned convicted criminal and founder of the u78crypto 
 exchange Binance, Changpeng Zhao, after Zhao offered to enter a business 
 deal with President Trump's family, after monthslong efforts by Binance 
 to lobby the White House and allies of the President, after the company 
 and its affiliates made significant financial and promotional 
 contributions to the President's family, including World Liberty 
 Financial, and after representatives of the President's family held 
 discussions to take a financial stake in Binance;
Whereas President Trump used the powers of his office and access to him to 
 promote and boost the value of his crypto ventures, including by 
 announcing and hosting a private dinner for the top 220 holders of his 
 memecoin this May that reportedly generated $324,000,000 in purchases of 
 the President's memecoin and an additional $900,000 in transaction fees 
 within just the first 2 days of the contest's announcement;
Whereas substantial foreign investment has flowed into Trump-linked crypto 
 projects from entities tied to foreign nations, including the Abu Dhabi-
 owned firm MGX, which purchased $2,000,000,000 of a Trump-backed 
 stablecoin, and the United Arab Emirates-based Aqua 1 Foundation, which 
 acquired $100,000,000 in World Liberty Financial tokens;
Whereas Chinese-born crypto billionaire Justin Sun, who faces allegations of 
 fraud and market manipulation by the United States Securities and 
 Exchange Commission, invested $75,000,000 in World Liberty Financial and 
 dined with the President shortly thereafter; and
Whereas such transactions raise serious concerns regarding conflicts of 
 interest, self-enrichment, and foreign influence over the conduct of 
 United States policy: Now, therefore, be it
 Resolved, That the House of Representatives supports legislation 
to--

    (1) prohibit the issuance, sponsoring, or endorsing of 
 digital assets (including cryptocurrency, memecoins, 
 stablecoins, tokens, nonfungible 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;

    (2) require the President, Vice President, Members of 
 Congress, candidates for public office, elected public 
 officials, and the immediate family members of each of these 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;

    (3) prohibit foreign investment in any digital assets 
 issued, promoted, or controlled by the President, Vice 
 President, Members of Congress, candidates for public office, 
 elected public officials, and the immediate family members of 
 each of these;

    (4) mandate the full and timely disclosure of all 
 cryptocurrency transactions by the President, Vice President, 
 Members of Congress, candidates for public office, elected 
 public officials, and the immediate family members of each of 
 these;

    (5) establish civil and criminal penalties for violations; 
 and

    (6) clarify that any actions that would violate the above 
 requirements are considered unofficial acts.
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