Press releases

Joint Statement on the EU-U.S. Joint Financial Regulatory Forum

U.S. Department of the Treasury Office of Public Affairs Press Rel ease: July 24, 2026 Contact: Treasury Public Affairs, Press@Treasury.gov Joint Statement on the EU-U.S. Joint Financial Regulatory Forum Brussels — The EU-U.S. Joint Financial Regulatory Forum took place on 9-10 June 2026 in Brussels, with participants exchanging views on a number of financial regulatory topics of mutual interest. The Forum was co-chaired by the European Commission and the U.S. Department of the Treasury. EU participants included senior representatives of the European Commission, European Central Bank (ECB), European Banking Authority (EBA), European Securities and Markets Authority (ESMA), European Insurance and Occupational Pensions Authority (EIOPA), and Single Resolution Board (SRB). U.S. participants included senior representatives from the U.S. Department of the Treasury, Federal Reserve Board (FRB), Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), Securities and Exchange Commission (SEC), and Commodity Futures Trading Commission (CFTC). The Forum highlighted the importance of sustained and close engagement between the EU and the U.S. and discussed: (1) digital finance; (2) market developments and financial stability; (3) the U.S. G20 Presidency’s Finance Track; (4) the EU Savings and Investments Union; (5) bank regulation and supervision, including resolution-related matters; (6) insurance regulation and supervision; (7) capital markets; (8) the Foreign Account Tax Compliance Act (FATCA); and (9) anti-money laundering and countering the financing of terrorism (AML/CFT). Participation varied across themes, with representatives expressing views on issues in their respective areas of responsibility. Participants opened the Forum with an exchange of views on policy priorities in digital finance, including efforts to encourage innovation and developments in relation to tokenisation of securities and the use of tokenised collateral. Participants discussed operational resilience and the use of artificial intelligence in financial services, emphasising both opportunities and importance of identifying and addressing potential risks. EU and U.S. participants provided updates on the state of play of respective regulatory frameworks for digital assets. EU participants updated on the current review of the Markets in Crypto-Assets (MiCA) Regulation and shared considerations for the ongoing development of the digital euro. And U.S. participants provided an update on progress toward implementing the GENIUS Act, as well as broader U.S. digital asset policy priorities and work. Discussions continued with participants sharing views on financial stability and market developments in their respective areas of authority, noting that the global financial system has been showing resilience in the current environment of financial system potential vulnerabilities, high asset valuations, and uncertain economic outlook. Participants emphasised the importance of robust prudential regulation and continued international dialogue for monitoring vulnerabilities, and of enhancing the resilience of the financial system and its ability to withstand shocks. Participants also discussed recent developments in the private credit market. The U.S. Treasury provided an update on the work of the U.S. G20 Finance Track and advancing priority financial sector issues toward concrete deliverables, and thanked EU participants for their support to the G20 agenda and work of the Financial Stability Board. EU participants updated on progress of the EU Savings and Investments Union strategy, highlighting initiatives to strengthen market integration and supervision and boost the competitiveness of the EU economy, in line with the commitments in the Joint Roadmap agreed by the European Parliament, Council of the European Union, and European Commission to achieving One Europe, One Market. EU and U.S. participants discussed bank regulatory capital requirements, sharing updates on their respective proposals and regulations, including those implementing the final components of Basel III. Participants highlighted the importance of strong and effective prudential regulation and supervision to enhance financial stability and promote a level playing field across jurisdictions, while also stressing the need to avoid unduly burdensome requirements. EU participants provided an update on its work on the forthcoming 2026 report on the competitiveness of the EU banking sector. The discussion then turned to bank resolution, in particular recent U.S. resolution-related initiatives and a recent analysis by the FDIC of deposit runs from March 2023. With respect to the interactions between U.S. federal securities laws and EU open bank bail-in mechanisms, the EU welcomed the SEC’s commitment to prepare a rulemaking recommendation regarding a potential exemption from the Securities Act’s registration requirements for securities offered and sold in connection with a regulatory bail-in. Participants also exchanged views on insurance-related matters, continuing prior discussions on a variety of insurance-related topics, and exchanging views on developments in the life-insurance sector and retirement income protection gaps. U.S. participants asked about the capital treatment of GNMA securities under EU insurance regulation. Participants then discussed capital markets developments, outlining recent work and sharing perspectives on how to increase the attractiveness of public markets as well as increase retail participation in private markets while ensuring that investor protections are in place. In this regard, the SEC participants provided an update on recent proposals to update the SEC’s corporate reporting framework, including rules to enhance and simplify the registration and reporting framework for smaller public companies. Participants also exchanged views on climate disclosures and other corporate sustainability related matters. Participants then discussed financial markets infrastructure developments, with EU participants providing updates on work to shorten the settlement cycle in the EU and in relation to the equivalence framework under the Central Securities Depositories Regulation (CSDR), and the SEC on their rules on clearing of U.S. Treasuries. Finally, participants discussed possible reforms to the international accounting and audit standard setting framework with respect to funding and governance. U.S. participants then provided an update on the Foreign Account Tax Compliance Act (FATCA). Regarding countering terrorist financing and anti-money laundering efforts, EU participants shared updates in relation to the implementation of the EU Anti-Money Laundering Package and the operationalisation of the Anti-Money Laundering Authority (AMLA), and U.S. participants provided an update on Treasury’s ongoing efforts to modernize the Bank Secrecy Act. Participants acknowledged the importance of the Forum in facilitating continuous dialogue between the United States and the European Union on financial regulation. Both sides reaffirmed the importance of regular communication on regulatory and supervisory issues of mutual concern to identify potential implications of policies and laws in each other’s jurisdictions, including extraterritorial concerns, and to support financial stability, investor protection, market integrity, and a level playing field. Participants will continue to engage on these topics in the lead-up to the next Forum, expected to take place late 2026. ###

Treasury Further Dismantles Iranian Financier Zanjani’s Network

U.S. Department of the Treasury Office of Public Affairs Press Rel ease: July 24, 2026 Contact: Treasury Public Affairs, Press@Treasury.gov Treasury Further Dismantles Iranian Financier Zanjani’s Network WASHINGTON —Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated four individuals and nine entities that form key components of Babak Zanjani (Zanjani)’s broader Iranian sanctions evasion network. Zanjani has leveraged a diverse portfolio—including financial services, gold and precious gem production, digital asset trading, and major transportation and infrastructure projects—to obscure ownership, launder revenue, and expand his capacity to move funds covertly through Iran and offshore. “The Iranian regime continues to pay a steep economic price for its reckless behavior, with the rial plunging to another record low and inflation up massively,” said Secretary of the Treasury Scott Bessent . “Under President Trump’s leadership, Treasury will continue cutting off economic access for corrupt Iranian regime elites, along with their financiers and facilitators.” Today’s action targets Zanjani’s Iran-based operations under the “Dot One” conglomerate and a series of companies outside Iran that have supported his flagship OFAC-designated digital asset exchanges—Zedcex Exchange Limited (Zedcex) and Zedxion Exchange Limited (Zedxion)—as well as their respective managers and executives. On January 30, 2026 , OFAC designated Zanjani and his two largest digital asset projects, Zedcex and Zedxion. After being sentenced to death in Iran in 2016 for embezzling millions from the OFAC-designated National Iranian Oil Company (NIOC), his sentence was commuted in 2024. By 2025, he had publicly re-emerged as a backer of regime-linked economic projects. Alongside high‑profile infrastructure and transportation ventures, Zanjani built a network of digital asset companies, including Zedcex and Zedxion, used in part to launder money for the OFAC-designated Islamic Revolutionary Guard Corps (IRGC). Through this combined infrastructure, Zanjani’s enterprises have served as both public‑facing commercial ventures and covert financial platforms enabling sanctions evasion and support to Iranian state‑linked entities. THE DOT ONE CONGLOMERATE Following his commutation, Zanjani re-entered the Iranian public eye through the establishment of his multiple Iran-based “Dot One” projects across a variety of diverse industries. Over the past two years, Zanjani has served as both public-facing chief executive and covert financial backer for these companies. Zanjani has frequently used his social media profiles to promote and celebrate Dot One ventures, including the April 2025 $800 million rail contract Dot One Rail Company secured with the Islamic Republic of Iran Railways. As both Iranian and international press have increasingly scrutinized Zanjani’s role within the Dot One conglomerate, the companies have obfuscated their ties with him. Located in Dot One tower in Tehran, Dot One Value Creation Group ( Dot One Value ) is the primary holding company for the Dot One conglomerate. Dot One Value purports to be involved in services including logistics, telecommunications, aviation, transportation, and digital assets. Zanjani was appointed the CEO of this company as early as 2024 and retains control over Dot One Value. DotOne Gold Company is Zanjani’s gold bar minter, producer, and custodian company. DotOne Gold Company is integral to the operations of Tala Token, an allegedly gold-backed digital asset token. Significant quantities of Tala Token passed through Zedcex infrastructure in early 2025. OFAC is designating DotOne Value and DotOne Gold Company pursuant to E.O. 13902 for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Zanjani. The Dot One conglomerate’s railway construction, clearing house service, airline service, and ride-sharing service operations are handled by DotOne Rail Company , DotOne Barter Company , DotOne Airlines Company , and DotOne Trip , respectively. OFAC is designating DotOne Rail Company, DotOne Barter Company, DotOne Airlines Company, and DotOne Trip pursuant to E.O. 13902 for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Dot One Value. ZEDCEX AND ZEDXION’S NETWORK OF SUPPORTING ENTITIES On January 30, 2026, OFAC designated Zanjani’s two UK-registered exchanges, Zedcex and Zedxion. Multiple Zedcex and Zedxion-attributed addresses have processed funds on behalf of wallets attributed to the IRGC. Zedcex and Zedxion have relied on companies based in Turkey and the United Arab Emirates for material, technological, and financial support. One of these companies has ties to Zanjani’s sister and his significant other. Istanbul-based Zedpay Finansal Sistem Ve Hizmetleri Anonim Sirketi ( Zedpay ) is a financial technology company that provides digital wallet and global transfer services. Zedpay was directly integrated into Zedxion’s platform, allowing users to utilize their Zedpay digital wallets while trading on Zedxion and providing Zedxion with fiat settlement and cross-border payment capabilities to which it would otherwise not have access. OFAC is designating Zedpay pursuant to E.O. 13902 for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Zedxion. Additionally, OFAC is designating Mehdi Rezazadeh , the chairperson of Zedpay, pursuant to E.O. 13902 for having acted or purported to act for or on behalf of, directly or indirectly, Zedpay. Dubai-based Zedx DMCC ( Zedx ) is an entity that has acted on Zedcex’s behalf, including with regard to Zedcex’s exchange wallets. OFAC is designating Zedx pursuant to E.O. 13902 for being owned or controlled by, or having acted or purported to act for or on behalf of, directly or indirectly, Zedcex. Additionally, OFAC is designating Sukhrob Oimakhmadov , the manager of Zedx, pursuant to E.O. 13902 for having acted or purported to act for or on behalf of, directly or indirectly, Zedx. Dubai-based BZ Diamond FZCO ( BZ Diamond ) is a dealer of lab-grown and natural diamonds managed by Zanjani’s sister, Bahareh Morteza Zanjani . BZ Diamond has supported Zedxion digital asset projects by promoting Zedxion’s NFT marketplace, offering a BZ Diamond token on the Zedxion blockchain, and conducting multiple transactions with Zedxion and Zedcex wallets, including sending assets to Zedxion. OFAC is designating BZ Diamond pursuant to E.O. 13902 for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of Zedxion. Additionally, OFAC is designating Bahareh Morteza Zanjani pursuant to E.O. 13902 for having acted or purported to act for or on behalf of, directly or indirectly, BZ Diamond. Zanjani’s significant other, Solmaz Bani ( Bani ), has registered websites for Zanjani’s companies. OFAC is designating Bani pursuant to E.O. 13902 for having materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, Zanjani. SANCTIONS IMPLICATIONS As a result of today’s action, a ll property and interests in property of the blocked persons described above that are in the United States or in the possession or control of U.S. persons are blocked and must be reported to OFAC. In addition, any entities that are owned, directly or indirectly, individually or in the aggregate, 50 percent or more by one or more blocked persons are also blocked. Unless authorized by a general or specific license issued by OFAC, or exempt, OFAC’s regulations generally prohibit all transactions by U.S. persons or within (or transiting) the United States that involve any property or interests in property of designated or otherwise blocked persons. Violations of U.S. sanctions may result in the imposition of civil or criminal penalties on U.S. and foreign persons. OFAC may impose civil penalties for sanctions violations on a strict liability basis. OFAC’s Economic Sanctions Enforcement Guidelines provide more information regarding OFAC’s enforcement of U.S. economic sanctions. In addition, financial institutions and other persons may risk exposure to sanctions for engaging in certain transactions or activities involving designated or otherwise blocked persons. The prohibitions include the making of any contribution or provision of funds, goods, or services by, to, or for the benefit of any designated or blocked person, or the receipt of any contribution or provision of funds, goods, or services from any such person. Non-U.S. persons are also prohibited from causing or conspiring to cause U.S. persons to wittingly or unwittingly violate U.S. sanctions, as well as engaging in conduct that evades U.S. sanctions. Individuals located in the U.S. or abroad who provide information about sanctions violations to the Financial Crimes Enforcement Network’s whistleblower incentive program may be eligible for awards if the information they provide leads to a successful enforcement action that results in monetary penalties exceeding $1,000,000. The power and integrity of OFAC sanctions derive not only from OFAC’s ability to designate and add persons to the SDN List, but also from its willingness to remove persons from the SDN List consistent with the law. The ultimate goal of sanctions is not to punish, but to bring about a positive change in behavior. For information concerning the process for seeking removal from an OFAC list, including the SDN List, please refer to OFAC’s FAQ 897 here and to submit a request for removal, click here . Click here for more information on the persons designated and any property identified as blocked property today . ###

FinCEN Issues Alert on Fraud Schemes Targeting Federal Student Aid

U.S. Department of the Treasury Office of Public Affairs Press Rel ease: July 24, 2026 Contact: Treasury Public Affairs, Press@Treasury.gov FinCEN Issues Alert on Fraud Schemes Targeting Federal Student Aid WASHINGTON —Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an Alert urging financial institutions to detect, prevent, and report suspicious activity connected to fraud schemes targeting student aid programs administered by the Federal government. Today’s action is the latest in Treasury’s efforts, led by President Trump and Vice President Vance, to eliminate government benefits fraud. “Every dollar stolen from Federal student aid is a dollar taken from taxpayers and deserving students,” said Secretary of the Treasury Scott Bessent . “The Trump Administration will not tolerate criminals who exploit government programs for personal gain. Treasury is working with financial institutions and law enforcement to identify these fraud schemes, recover stolen funds, and hold those responsible accountable.” Fraud rings use stolen and fraudulent identities, as well as other tactics, to enroll in educational institutions and unlawfully acquire funds from Federal student aid programs. The schemes not only result in losses to Federal student aid programs, but in some cases, real students face difficulties enrolling in classes because of the number of fraudulently enrolled “students.” Fraudsters Steal Personally Identifiable Information to Create “Ghost Students” To create ghost students, fraudsters may illegally obtain Personally Identifiable Information (PII) to impersonate an identity theft victim and pose as a legitimate student. Fraudsters may also use artificial intelligence or other tools to overcome identity verification by generating fraudulent documents that combine stolen PII with fabricated details, commonly referred to as synthetic identities. Victims whose identities are leveraged as part of ghost student schemes, including minors, are unaware that fraudsters are receiving Federal student aid using their PII. Fraud Rings Leverage Complicit “Straw Students” to Obtain Federal Student Aid Straw students are complicit individuals who, for a fee, provide their PII to fraudsters, who then enroll them at educational institutions and collect financial aid refunds issued in their names. Fraudsters may organize sophisticated networks of individual straw students to obtain Federal student aid. Corrupt staff at educational institutions can act as insiders for fraud schemes, taking advantage of their positions to defraud Federal student aid programs by recruiting straw students and manipulating their educational records. Financial Institutions Are Encouraged to Identify and Report Suspicious Activity Involving Federal Student Aid Fraud Financial institutions may be able to identify student aid refund payments either through deposits made directly by educational institutions or by contracted intermediaries. According to Bank Secrecy Act data, payments made by an intermediary typically occur via Automated Clearing House transfers and the associated transaction references may include the term “refund” and the educational institution’s name or abbreviation ( g. , “Local Community College Refund” or “LCC REFUND”). In some cases, the stated recipient may also be listed in the transaction reference ( g. , “LCC REFUND John Doe”). After illicitly obtaining student aid refunds, fraudsters may launder student aid funds, including through money mules, shell companies, and fraudulent accounts. Under President Trump’s leadership, Treasury is committed to eliminating government benefits fraud. Today’s Alert aims to defend the United States against financial fraud and improper payments, an object ive of Executive Order 14249, Protecting America’s Bank Account Against Fraud, Waste, and Abuse . ###

US Department of Labor files amicus brief supporting fiduciary discretion in use of forfeited funds under ERISA

WASHINGTON – The U.S. Department of Labor today filed an amicus brief urging the Fourth Circuit to affirm a district court’s decision dismissing the claims in Stana v. SAS Institute Inc., No. 26-1305, that the employer breached its fiduciary obligations by not using forfeited funds for plan expenses.In the amicus brief, the department asserted that the district court appropriately determined the plan fiduciary did not violate its duty of loyalty to plan participants. The plaintiffs’ argument that forfeitures should be allocated to pay plan expenses does not allow for the fact that the plan at issue gave the fiduciary that allocated the forfeitures discretion over them under the Employee Retirement Income Security Act.The department has primary authority to interpret and enforce provisions of Title I of ERISA to ensure fair and impartial administration and compliance with its requirements.The plaintiffs in the case were employed by the SAS Institute and participated in its retirement plan that allowed employees to be fully vested after five years of employment. If a participant left the company before completing five years of employment, the employee would forfeit the balance of the company’s unvested matching contributions. As the plan manager, SAS has the power to determine how forfeited funds are distributed, the brief said.Between 2018 and 2023, SAS generally opted to use the forfeited funds to reduce its matching contributions. However, in 2022, SAS chose to allocate $222,320 in forfeitures toward plan expenses. Plaintiffs claimed that unless the plan was on the verge of insolvency, SAS should have used all forfeitures to pay plan expenses to reduce costs for participants.Under ERISA, retirement plan administrators must act loyally. They do not act disloyally by choosing to use forfeitures for employers’ plan contributions rather than plan expenses, the department said. The brief also contended that continued litigation of this type could have the unintended effect of disincentivizing employers from creating retirement plans. Read the department’s amicus brief in Stana v. SAS Institute.

Hubble Spies One-Sided Spiral

This Hubble image features spiral galaxy NGC 4654, located 72 million light-years away in the constellation Virgo (the Maiden).

A Million-Panel Project

Utah’s new solar power and battery storage facility is among the largest in the region.

Curiosity Blog, Sols 4954–4960: Celebrating Our Rover Engineers Past and Present

Written by Lucy Thompson, Senior Research Scientist, University of New Brunswick, Canada Earth planning date: Friday, July 17, 2026 As an APXS uplink lead and strategic planner, I have the privilege of working with the rover engineers most days that I am on operations. The APXS instrument measures the chemistry of rocks, unconsolidated materials and […]

BLM Issues Decision on South Clark Forest Management Project

Home Info Press Releases Press Releases The BLM manages about 245 million acres of public land located primarily in 12 western states, including Alaska, on behalf of the American people. The BLM also administers 700 million acres of sub-surface mineral estate throughout the nation. Our mission is to sustain the health, diversity, and productivity of America’s public lands for the use and enjoyment of present and future generations.

Missouri Breaks Interpretive Center Staff Announce August Events

Home Info Press Releases Press Releases The BLM manages about 245 million acres of public land located primarily in 12 western states, including Alaska, on behalf of the American people. The BLM also administers 700 million acres of sub-surface mineral estate throughout the nation. Our mission is to sustain the health, diversity, and productivity of America’s public lands for the use and enjoyment of present and future generations.

BLM Issues Decision on Cutthroat Creek Culvert Replacement

Home Info Press Releases Press Releases The BLM manages about 245 million acres of public land located primarily in 12 western states, including Alaska, on behalf of the American people. The BLM also administers 700 million acres of sub-surface mineral estate throughout the nation. Our mission is to sustain the health, diversity, and productivity of America’s public lands for the use and enjoyment of present and future generations.

DOW Awards a Nearly $7 Billion Oracle Agreement to Accelerate the Arsenal of Freedom

The War Department announced a historic up-to-10-year, nearly $7 billion enterprise software agreement with Oracle, further advancing the Arsenal of Freedom.

Secretary of War General Officer Announcement for July 23, 2026

Secretary of War Pete Hegseth announced a general officer nomination made by the president.