U.S. Congressman Ro Khanna introduces a bill to ban lawmakers from owning, trading, or creating cryptocurrencies while in office, citing concerns over corruption and insider trading.

The proposed legislation aims to prevent lawmakers from engaging in crypto trading and ownership, which can be facilitated through various platforms, including exchanges, wallets, and decentralized finance (DeFi) protocols.

The bill would require elected officials to divest their crypto assets and refrain from acquiring new ones while in office.