H.R. 1730: No Alipay Act of 2025
This bill, titled the No Alipay Act of 2025
, proposes to prohibit any financial transactions involving Alipay, a payment processing service operated by AliPay (China) Internet Technology Company Limited, within the United States. Here are the key points outlined in the bill:
Prohibition on Alipay Transactions
The bill explicitly states that no financial transactions between Alipay and a person in the United States are allowed. This includes transactions using any applications or services that Alipay provides for payment processing.
Definitions
To clarify who this bill applies to, several key terms are defined:
- United States person: This term includes:
- Any national of the United States;
- Any alien who is legally a permanent resident;
- Any entity (such as a corporation) organized under U.S. laws or applicable state laws;
- Any individual who is currently present in the United States.
- Financial transaction: This encompasses:
- Any transaction that affects interstate or foreign commerce, involving the transfer of funds or monetary instruments;
- Any transaction utilizing financial institutions that operate in the context of interstate or foreign commerce.
Implications of Prohibition
Should this bill be enacted, it would effectively block users in the U.S. from using Alipay services for transactions, impacting not just individuals but also businesses that might rely on this payment platform for transactions involving U.S. persons.
Enforcement and Consequences
The bill does not detail the specific enforcement mechanisms or penalties for non-compliance. However, given the prohibition, it would imply that any engagement in transactions with Alipay by individuals or entities defined above could lead to legal repercussions, although the bill would serve as the basis for such enforcement.
Relevant Companies
- BABA (Alibaba Group Holding Limited) - As the parent company of Alipay, Alibaba could face significant operational impacts as Alipay's U.S. business would be curtailed under this legislation.
This is an AI-generated summary of the bill text. There may be mistakes.
Sponsors
1 sponsor
Actions
2 actions
| Date | Action |
|---|---|
| Feb. 27, 2025 | Introduced in House |
| Feb. 27, 2025 | Referred to the House Committee on Financial Services. |
Corporate Lobbying
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