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Blocking China's IMF Access: Prohibition on Exchanging Special Drawing Rights.

This bill prohibits the U.S. Treasury Secretary from exchanging Special Drawing Rights (SDRs) held by the Chinese Communist Party (CCP) that were issued by the International Monetary Fund (IMF). The goal is to restrict the CCP's ability to convert these assets into usable currency through the U.S. government. Furthermore, the U.S. must advocate globally against new SDR allocations to China and encourage other nations to adopt similar prohibitions.
Key points
The U.S. Treasury is banned from participating in transactions to exchange IMF Special Drawing Rights held by the Chinese Communist Party.
The U.S. must actively oppose any future allocation of SDRs to the CCP within the International Monetary Fund.
The President can waive this prohibition if deemed necessary for U.S. national interest, and the measure is set to expire after five years.
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Introduced
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Additional Information
Print number: 119_S_3036
Sponsor: Sen. Scott, Rick [R-FL]
Process start date: 2025-10-23
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Chinese Communist Party SDR Exchange Prohibition Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_S_3036.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-10-23.

What are the main provisions?

Key points include:

  • The U.S. Treasury is banned from participating in transactions to exchange IMF Special Drawing Rights held by the Chinese Communist Party.
  • The U.S. must actively oppose any future allocation of SDRs to the CCP within the International Monetary Fund.
  • The President can waive this prohibition if deemed necessary for U.S. national interest, and the measure is set to expire after five years.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Scott, Rick [R-FL].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Economy Security