October 23, 2025
Mr. Scott of Florida introduced the following bill; which was read twice and referred to the Committee on Foreign Relations
To prohibit the Secretary of the Treasury from engaging in transactions involving the exchange of Special Drawing Rights issued by the International Monetary Fund that are held by the Chinese Communist Party.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
Section 1. Short title
This Act may be cited as the Chinese Communist Party SDR Exchange Prohibition Act of 2025
.
Sec. 2. Prohibition on exchange of Special Drawing Rights held by Chinese Communist Party
(a) In general
The Secretary of the Treasury may not engage in any transaction involving the exchange of Special Drawing Rights issued by the International Monetary Fund and held by the Chinese Communist Party.
(b) Advocacy
The Secretary shall—
(1)
vigorously advocate that the government of each member country of the International Monetary Fund, to the extent that the member country issues a freely usable currency, prohibit transactions involving the exchange of Special Drawing Rights held by the Chinese Communist Party; and
(2)
direct the United States Executive Director of the International Monetary Fund to use the voice and vote of the United States to oppose any allocation of Special Drawing Rights to the Chinese Communist Party.
(c) Waiver
The President may waive the application of this section if the President—
(1)
determines that a waiver is in the national interest of the United States; and
(2)
submits to Congress a notice of and justification for such waiver.
(d) Termination
This section shall terminate on the earlier of—
(1)
the date that is 5 years after the date of the enactment of this Act; and
(2)
the date on which the President determines and reports to Congress that termination of this section is in the national interest of the United States.