This bill would ban all financial transactions using Alipay, a Chinese digital payment service, within the United States. The prohibition would apply to U.S. citizens, permanent residents, U.S.-based businesses, and anyone physically located in the country, preventing them from using Alipay's payment applications and services. The legislation defines "financial transactions" broadly to include wire transfers, monetary instrument movements, and any transactions processed through financial institutions that affect interstate or foreign commerce. The bill contains no specified funding allocations or implementation timeline beyond its introduction in February 2025. If enacted, this would effectively make Alipay inaccessible to the roughly 5 million American users of the platform, primarily affecting Chinese tourists, immigrants, and international commerce participants who rely on the payment system.
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