U.S. Department of the Treasury

Today’s action is a victory for common sense and American small businesses. @POTUS promised to cut red tape, and this final rule delivers. Treasury is eliminating a burdensome reporting requirement for millions of law-abiding business owners without compromising our national security.

Today, @FinCENnews issued a final rule that permanently removes the requirement for U.S. companies and U.S. persons to report beneficial ownership information. FinCEN today also announced that it will delete previously reported information by U.S. persons from the beneficial ownership information database.

We welcome Meta’s release of Muse Glimmer, another win for American innovation. Sustaining U.S. leadership in AI means advancing both open- and closed-weight models, ensuring the future is built on trusted foundations.

Trump Accounts are giving American families a new way to build wealth from day one. Today, Treasury is publishing guidance that will help families grow Trump Accounts by allowing employers to contribute up to $2,500 tax-free each year for employees’ dependents and giving employees the option to contribute pre-tax dollars directly to those accounts.

Last week in Arizona, I joined @USComptroller and local banking leaders to discuss the critical role they play on the frontlines of furthering our economic and national security. We highlighted recent guidance issued to supervised financial institutions that supports the President’s EO by compelling banks to consider the risks associated with lending to illegal aliens. The Trump Administration will continue working with community banks to combat financial crime, strengthen the banking system, and protect the American people, while also taking steps to reduce their regulatory burden so they can better serve families and small businesses across the country.

Congratulations to @AGToddBlanche on being sworn in as Attorney General. He has been a trusted partner in advancing President Trump’s agenda and a proven leader at @TheJusticeDept. His leadership has delivered real results, and I know he will continue working tirelessly to uphold the rule of law and keep America safe.

It was an honor to join @SecWar, Senator Darline Graham, and Governor @henrymcmaster in renaming Joint Base Charleston in memory of Lindsey Graham. The names we place on our military installations reflect the service we honor, the character we esteem, and the example we ask future generations to follow. Few Americans embodied those virtues more completely than Lindsey. He served our nation for 33 years in uniform and more than three decades in the United States Senate, always guided by his belief that the first obligation of government is to keep the American people safe. Across both of his callings in life, whether the pull of duty brought him to the Air Force or to Congress, a base in Afghanistan or the floor of the Senate, he devoted himself to the same great purpose. He served a cause greater than self. That is why this base will bear Lindsey's name with pride. And the soldiers who serve beneath it will find in his legacy an example to guide their own. His name will forever stand as a testament to a life devoted to service, sacrifice, and country.

McDonald's problem is called Burger King, Professor. No wonder Bill Clinton fired you. UC Berkeley should too, if that’s what passes for “research.”

Today, the Senate confirmed Francis Brooke Jr. as Deputy Secretary, Erin Browne as Under Secretary, and S.P. Kothari and G. Hunter McMaster II as Assistant Secretaries of the Treasury. Congratulations to all four of these accomplished officials and their families. Treasury looks forward to their continued leadership in advancing President Trump's pro-growth agenda for the American people.

The Iranian regime’s reliance on digital assets and shadow banking networks is further evidence that Economic Fury is working. We will continue to increase the economic pressure. Whether in dollars, rials, or crypto, Treasury will hunt down and dismantle the illicit financial networks that keep the regime afloat.

Iran’s shadow banking system is buckling under Economic Fury, and the regime is running out of ways to move money. Every facilitator that keeps the regime afloat is putting a target on its own back.  Treasury will continue to expose these networks and cut them off from the U.S. financial system.

Today, Treasury’s Office of Foreign Assets Control is moving against digital asset exchanges that the Iranian regime relies on to launder billions of dollars, maintain covert access to international financial systems, and support the Islamic Revolutionary Guard Corps, among other terrorist groups.  This action targets two major digital asset exchanges used by Tehran, along with the ringleader of a network of front companies.

Today, Treasury’s Office of Foreign Assets Control took action against multiple networks spanning several countries for enabling Iran’s rahbar banking system to move hundreds of millions of dollars. Iran is desperate for foreign currency, and to make matters worse for the regime, it is losing substantial sums to corruption and mismanagement within the shadow banking system.

Today, @FinCENnews renewed a Geographic Targeting Order designed to combat fraud in Minnesota and protect U.S. taxpayers.  Extensive schemes have fraudulently diverted state and Federal dollars meant for people who lack housing, are food insecure, have disabilities, or are otherwise eligible to receive government benefits, costing the state of Minnesota potentially billions of dollars, a portion of which has been laundered overseas.  The renewed Order will continue to support law enforcement in holding fraudsters accountable.

Under President Trump, lower-wage workers are seeing the biggest earnings growth right now—more than three times greater than those at the top.