Category: Finance

MIL-OSI Russia: IMF Executive Board Completes the Fifth Review Under the Stand-By Arrangement with Armenia

Source: IMF – News in Russian

June 27, 2025

The IMF Executive Board completed the fifth review under the Stand-By Arrangement (SBA) with Armenia, providing the country with access equivalent to SDR 18.4 million (about US$26.1 million). The Armenian authorities continue to treat the arrangement as precautionary.
Economic activity remains strong. Real GDP growth is expected to reach 4.5 percent in 2025 as external growth drivers continue to taper off amid higher global uncertainty.
The SBA aims to support the government’s policy and reform agenda to preserve economic and financial stability and support strong, inclusive, and sustainable growth.

Washington, DC: The Executive Board of the International Monetary Fund (IMF) completed the fifth review under the Stand-By Arrangement (SBA) with Armenia. The completion of the review enables access to an amount equivalent to SDR 18.4 million (about US$26.1 million), bringing total access to the equivalent of SDR 110.4 million (about US$156.9 million). The SBA was approved by the IMF Executive Board on December 12, 2022 (see Press Release No. 22/429). The Armenian authorities continue to treat the arrangement as precautionary. The Executive Board’s decision was taken on a lapse-of-time basis.[1]

Armenia’s economic activity remains strong. Real GDP growth reached 5.9 percent in 2024 and is expected to return to its long-term trend of 4.5 percent in 2025 as trade and services normalize. Inflation is expected to remain around the Central Bank of Armenia’s (CBA) target by end-2025. Risks to this outlook are elevated, stemming from the unprecedented uncertainty related to the ongoing global trade tensions and potential slowdown in the growth of trading partners. Regional geopolitical shifts, which could lead to a reversal of recent capital inflows and foreign exchange (FX) volatility, also weigh on the outlook.

The slowdown in external demand, lower remittances inflows, and robust domestic demand, are projected to widen the current account deficit to 4.5 percent of GDP in 2025. Nonetheless, external and financial sector buffers remain strong.

The 2025 budget deficit target of 5.5 percent of GDP is appropriate, accommodating priority spending needs, including on national security, refugee integration, and infrastructure development. The adopted 2026-28 medium-term expenditure framework will reduce the fiscal deficit in 2026 to 4.5 percent, supporting macro-fiscal stability while making room for well-targeted, priority social and development spending.

The program is broadly on track. All end-December 2024 quantitative performance criteria (QPCs) have been met except for a small breach of the QPC on budget domestic lending. The end-December 2024 inflation was within the inner Monetary Policy Consultation Clause bands. Progress on structural benchmarks continues, although with some delays.

The ongoing economic uncertainty underscores the need for prudent policies and steadfast implementation of structural reforms:

Fiscal policy should continue to balance the need to support national spending priorities while maintaining macro-fiscal stability, with further efforts to mobilize revenue and enhance spending efficiency.
The CBA should remain proactive in keeping inflation anchored, with future interest rate decisions guided by developments in inflation and inflation expectations. The flexible exchange rate should continue to serve as a key shock absorber. Foreign exchange interventions should be limited to addressing disorderly market conditions and seeking opportunities to bolster FX reserves through purchases when conditions allow.
To sustain long-term growth, structural reforms should continue to advance reforms focused on improving labor market flexibility, diversifying exports, enhancing supervisory frameworks, and strengthening governance.

Table 1. Armenia: Selected Economic and Financial Indicators, 2022–30


	2022	2023	2024	2025	2026	2027	2028	2029	2030
	Act.			Proj.

National income and prices:
Real GDP (percent change)	12.6	8.3	5.9	4.5	4.5	4.5	4.5	4.5	4.5
Final consumption expenditure, Contrib. to Growth	3.7	5.3	3.3	3.8	2.5	2.9	2.9	2.9	2.9
Gross fixed capital formation, Contrib. to Growth	2.7	3.1	2.6	2.6	2.5	2.1	2.1	2.1	2.1
Changes in inventories, Contrib. to Growth	-0.3	0.0	-0.3	-1.8	0.0	0.0	0.0	0.0	0.0
Net exports of goods and services, Contrib. to Growth	6.2	-0.1	0.0	0.3	-0.5	-0.5	-0.5	-0.5	-0.5
Gross domestic product (in billions of drams)	8,501	9,493	10,193	10,926	11,760	12,658	13,624	14,665	15,784
Gross domestic product (in millions of U.S. dollars)	19,514	24,186	25,705	26,437	26,864	28,084	29,724	31,603	33,547
Gross domestic product per capita (in U.S. dollars)	6,661	8,159	8,671	8,917	9,060	9,471	10,024	10,656	11,311
CPI (period average; percent change)	8.7	2.0	0.3	3.2	3.0	3.0	3.0	3.0	3.0
CPI (end of period; percent change)	8.3	-0.6	1.5	3.3	3.0	3.0	3.0	3.0	3.0
GDP deflator (percent change)	8.0	3.1	1.4	2.6	3.0	3.0	3.0	3.0	3.0
Unemployment rate (in percent)	13.5	12.4	13.9	13.5	14.0	14.0	14.0	14.0	14.0
Investment and saving (in percent of GDP)
Investment	22.4	22.9	23.8	21.2	21.2	21.2	21.1	21.1	21.1
National savings	22.7	20.6	20.0	16.7	16.4	16.5	16.4	16.3	16.3

Money and credit (end of period)
Reserve money (percent change)	5.0	-4.0	13.8	9.8	9.8	9.8	9.8	9.8	9.8
Broad money (percent change)	16.1	17.4	13.7	12.5	12.5	12.5	12.5	12.5	12.5
Private sector credit growth (percent change)	4.5	18.4	31.7	13.3	13.3	13.3	13.3	13.3	13.3
Central government operations (in percent of GDP)
Revenue and grants	24.3	24.9	25.3	25.1	25.4	25.5	25.5	25.5	25.5
Of which: tax revenue	21.9	22.5	22.4	23.0	23.3	23.4	23.4	23.4	23.4
Expenditure	26.4	26.9	29.0	30.6	29.9	29.8	29.3	29.0	28.8
Overall balance on a cash basis	-2.1	-2.0	-3.7	-5.5	-4.5	-4.3	-3.8	-3.5	-3.3
Public and publicly-guaranteed (PPG) debt (in percent of GDP)	49.2	50.5	50.0	54.2	55.9	57.4	57.6	57.4	57.1
Central Government’s PPG debt (in percent of GDP)	46.7	48.2	48.0	52.4	54.3	56.0	56.4	56.4	56.1
Share of foreign currency Central Government PPG debt (in percent)	62.1	52.7	48.2	47.7	46.9	46.3	46.3	46.5	46.9
External sector
Exports of goods and services (in millions of U.S. dollars)	10,118	14,338	18,618	12,167	12,292	12,537	12,863	13,228	13,611
Exports of goods and services (percent change)	100.8	41.7	29.8	-34.7	1.0	2.0	2.6	2.8	2.9
Imports of goods and services (percent change)	66.8	41.6	31.3	-30.7	1.2	2.4	2.9	2.9	3.1
Current account balance (in percent of GDP)	0.3	-2.3	-3.9	-4.5	-4.8	-4.8	-4.8	-4.8	-4.8
FDI (net, in millions of U.S. dollars)	926	527	76	397	454	468	483	529	534
Gross international reserves (in millions of U.S. dollars)	4,112	3,610	3,679	3,427	3,561	3,665	3,768	3,869	3,969
Import cover 1/	3.4	2.3	3.3	3.1	3.1	3.1	3.1	3.1	3.1
End-of-period exchange rate (dram per U.S. dollar)	394	405	397	…	…	…	…	…	…
Average exchange rate (dram per U.S. dollar)	436	392	397	…	…	…	…	…	…

Sources: Armenian authorities; and Fund staff estimates and projections.
1/ Gross international reserves in months of next year’s imports of goods and services, including the SDR holdings.

[1] The Executive Board takes decisions under its lapse-of-time procedure when the Board agrees that a proposal can be considered without convening formal discussions.

IMF Communications Department

MEDIA RELATIONS

PRESS OFFICER: Wafa Amr

Phone: +1 202 623-7100Email: MEDIA@IMF.org

https://www.imf.org/en/News/Articles/2025/06/27/pr-25222-armenia-imf-executive-board-completes-the-fifth-review-under-the-stand-by-arrangement

MIL OSI

MIL OSI Russia News –

June 28, 2025

MIL-OSI: Welsbach Technology Metals Acquisition Corp. (“WTMA”) Announces Successful Approval for its Business Combination with Evolution Metals LLC (“EM”) from the Extraordinary General Meeting of Stockholders on June 26, 2025

Source: GlobeNewswire (MIL-OSI)

Chicago, IL and St. Louis, MO, June 27, 2025 (GLOBE NEWSWIRE) — Welsbach Technology Metals Acquisition Corp. (OTC: WTMA), a publicly traded special purpose acquisition company, today announced the successful approval from its extraordinary general meeting (“Business Combination EGM”) of stockholders for its Business Combination with Evolution Metals LLC (“EM”), dedicated to bringing to the US capital markets a secure, reliable global supply chain for critical minerals and materials (“CMM”) that is independent of China.

Through the Business Combination, WTMA and EM expect to acquire, scale and integrate five operating companies: (1) bonded magnet manufacturing; (2) sintered magnet manufacturing; (3) magnet metals and alloy production; (4) Li-ion battery recycling; and (5) smart machine design and automation. Upon closing, the combined company will be renamed Evolution Metals & Technologies Corp. (“EM&T”) and expects to trade on Nasdaq under the symbol EMAT.

EM&T’s business is to leverage advanced technologies such as robotics and artificial intelligence (AI) to provide integrated midstream and downstream CMM recycling and processing of oxides, metals, magnet alloys, battery materials, and rare earth magnets for key industries including, but not limited to, the automotive, aerospace, defense, healthcare, high tech, consumer electronics and appliances, and renewable energy industries, while driving a sustainable future.

“Today’s stockholder approval marks a transformative milestone in our journey to identify a vertically integrated and geopolitically independent supply chain for critical minerals and materials.” said Daniel Mamadou, CEO of WTMA. “Our merger with Evolution Metals represents not only a strategic alignment of values and vision, but also a decisive step toward delivering long-term value for our stakeholders. We are proud to join forces with Evolution Metals, who shares our commitment to sustainability, innovation, and industrial resilience in an increasingly complex global environment.”

David Wilcox, Managing Member of Evolution Metals LLC, added: “This is an exciting moment for Evolution Metals and our partners. Upon the completion of our merger with WTMA, we we intend to accelerate our mission to create a secure, U.S.-centered supply chain for critical materials vital to clean energy, advanced manufacturing, and national defense. By vertically integrating a supply chain of critical materials production, we bring together complementary strengths and operational capabilities that position us to lead in an era where independence and supply chain security are more important than ever. Our plans are to replicate the Korean operations we expect to acquire into Missouri, creating a major industrial campus. We expect to fully process batteries and e-waste into salts, magnets and related materials – a dominant U.S. Champion in the mid-stream.”

In addition, WTMA today announced that WTMA is extending the deadline for its stockholders to withdraw and reverse any previously delivered demand for redemption made in connection with the Business Combination EGM until WTMA determines not to accept reversals of redemption instructions. If a stockholder has previously submitted a request to redeem its shares in connection with the Business Combination EGM and would like to reverse such request, such stockholder may contact WTMA’s transfer agent, Continental Stock Transfer & Trust Company, at spacredemptions@continentalstock.com.

You can find further information regarding the Business Combination and related matters in WTMA’s filings with the US Securities Exchange Commission (“SEC”), including the Registration Statement on Form S-4. These filings are available on the SEC website: https://www.sec.gov/edgar/search/#/q=wtma.

About Welsbach Technology Metals Acquisition Corp.

Welsbach Technology Metals Acquisition Corp. (OTC: WTMA) is a blank check company focused on identifying high-impact technology metals businesses aligned with global sustainability and security trends.

About Evolution Metals LLC

Evolution Metals LLC is committed to establishing a secure, robust and reliable supply chain for critical minerals & materials (CMM) that is 100% independent of China for sourcing or supplying feedstocks. EM’s strategy is to acquire and develop manufacturing, recycling and processing facilities to produce essential products (including magnets, battery feedstocks and related materials) for industrial uses such as, but not limited to, electric vehicles, electronics, environmental technologies and aerospace and defense applications. EM aims to support the creation of jobs, industry and manufacturing to promote a greener future by providing bespoke solutions to support its clients globally.

Cautionary Statement Regarding Forward Looking-Statements

Certain statements made in this press release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “anticipate,” “believe,” “can,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “might,” “outlook,” “plan,” “possible,” “potential,” “predict,” “project,” “seek,” “should,” “strive,” “target,” “will,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. The forward-looking statements are based on the current expectations and beliefs of the management of WTMA and EM, as applicable, and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made with the U.S. Securities and Exchange Commission (“SEC”) by WTMA and the following: WTMA’s ability to complete the proposed Business Combination or, if WTMA does not consummate such proposed Business Combination, any other initial business combination; the risk that the consummation of the proposed Business Combination is significantly delayed; the ability to recognize the anticipated benefits of the proposed Business Combination; the risk that the announcement and consummation of the proposed Business Combination disrupts EM’s current plans; following the closing of the proposed Business Combination, WTMA’s (which intends to change its name to Evolution Metals & Technologies Corp. (such post-closing entity is referred to as “New EM”)) ability to successfully integrate the business and operations of the target companies (the “Target Companies”) into its ongoing business operations and realize the intended benefits of New EM’s acquisition of the Target Companies; New EM’s ability to secure sufficient funding to successfully rebuild Critical Mineral Recovery, Inc.’s recycling facility with significant expansion on management’s expected timeline and budget, or at all; unexpected costs related to the proposed Business Combination; expectations regarding New EM’s strategies and future financial performance, including future business plans, expansion and acquisition plans or objectives, prospective performance and opportunities and competitors, revenues, products and services, pricing, operating expenses, product and service acceptance, market trends, liquidity, cash flows and uses of cash, capital expenditures, and New EM’s ability to invest in growth initiatives; satisfaction or waiver (if applicable) of the conditions to the proposed Business Combination, including, among other things: (i) approval of the proposed Business Combination and related agreements and transactions by the WTMA stockholders, the holder of the EM member units and the holders of the equity interests of the other Target Companies, (ii) receipt of approval for listing on Nasdaq Stock Market LLC (“Nasdaq”) the shares of WTMA common stock to be issued in connection with the Business Combination, and (iii) the absence of any injunctions; that the amount of cash available in the trust account and from certain other investments is at least equal to the minimum available cash condition amount, after giving effect to redemptions by WTMA stockholders and certain transaction expenses; the occurrence of any other event, change or other circumstances that could give rise to the termination of the Merger Agreement; the implementation, market acceptance and success of New EM’s business model and growth strategy; the ability to obtain or maintain the listing of New EM’s common stock on Nasdaq following the proposed Business Combination; limited liquidity and trading of WTMA’s public securities; the amount of any redemptions by existing holders of WTMA common stock being greater than expected; WTMA’s ability to raise financing in the future; WTMA’s success in retaining or recruiting, or changes required in, New EM’s officers, key employees or directors following the completion of the proposed Business Combination; WTMA officers and directors allocating their time to other businesses and potentially having conflicts of interest with WTMA’s business or in approving the proposed Business Combination; the use of proceeds not held in the trust account or available to WTMA from interest income on the trust account balance; the impact of the regulatory environment and complexities with compliance related to such environment, including New EM’s ability to meet, and continue to meet, applicable regulatory requirements; New EM’s ability to execute its business plan, including with respect to its technical development and commercialization of products, and its growth and go-to-market strategies; New EM’s ability to achieve sustained, long-term profitability and commercial success; operational risks, including with respect to New EM’s use of agents or resellers in certain jurisdictions, New EM’s ability to scale up its manufacturing quantities of its products, New EM’s outsourcing of manufacturing and such manufacturers’ ability to satisfy New EM’s manufacturing needs on a timely basis, the availability of components or raw materials used to manufacture New EM’s products and New EM’s ability to process customer order backlog; New EM’s revenue deriving from a limited number of customers; geopolitical risk and changes in applicable laws or regulations, including with respect to New EM’s planned operations outside of the U.S. and Korea; New EM’s ability to attract and retain talented personnel; New EM’s ability to compete with companies that have significantly more resources; New EM’s ability to meet certain certification and compliance standards; New EM’s ability to protect its intellectual property rights and ability to protect itself against potential intellectual property infringement claims; the outcome of any known and unknown litigation and regulatory proceedings, including any proceedings that may be instituted against WTMA or EM following announcement of the proposed Business Combination; the potential characterization of New EM as an investment company subject to the Investment Company Act of 1940, as amended; and other factors detailed under the section entitled “Risk Factors” in the Registration Statement. Should one or more of these risks or uncertainties materialize or should any of the assumptions made by the management of WTMA, EM and the other Target Companies prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Except to the extent required by applicable law or regulation, WTMA, EM and the other Target Companies undertake no obligation to update these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events.

Investor & Media Contacts

Judith McGarry
Evolution Metals LLC
Tel: +1 (415) 971-2900
Email: judith.mcgarry@evolution-metals.com

Daniel Mamadou
Chief Executive Officer
Welsbach Technology Metals Acquisition Corp.
Tel: +1 (251) 280-1980
Email: daniel@welsbach.sg

The MIL Network –

June 28, 2025
MIL-OSI USA: California invests billions of dollars to fix roads with “gas tax,” expand bus and train service
Source: US State of California Governor
Jun 27, 2025

What you need to know: Continuing Governor Newsom’s build more, faster agenda, the state is awarding nearly $5 billion today to infrastructure projects that improve roads, expand transportation, bus and rail options while improving public health and safety.

SACRAMENTO – Governor Gavin Newsom today announced nearly $5 billion in funding to improve state highways, expand bus, train, and clean transportation services, and increase pedestrian and bicycle travel options. The funds announced today are awarded by the California Transportation Commission (CTC).

The investments announced today are a key part of Governor Newsom’s build more, faster agenda delivering infrastructure upgrades and creating thousands of jobs across the state.

“We’re not just rebuilding transportation – we’re reimagining it. This investment – upwards of $5 billion – is about protecting Californians today and preparing for tomorrow with transit and transportation options that are safer, cleaner, and built to serve the needs of every Californian.”

Governor Gavin Newsom
Nearly $2.44 billion of the funding announced today comes from Senate Bill (SB) 1, the Road Repair and Accountability Act of 2017, which puts drivers’ gas tax dollars to work improving the safety conditions of California’s roadways. $1.45 billion of this funding will go to zero- and low-emission transportation and new infrastructure to strengthen California’s freight network and better connect marine ports with railyards and freight corridors — leading to less traffic and improved road conditions.

The Trade Corridor Enhancement Program (TCEP) will provide $810 million to projects designed to improve freight movement and reduce toxic pollution by decreasing the time trucks, cars and trains sit idle and by rerouting tractor-trailers. It will also increase the number of zero-emission truck stations by 25%.

“Under Governor Gavin Newsom’s leadership, these transformative investments represent a bold step towards a future where our transportation system is safer, more efficient and a driving force for economic prosperity,” said California Transportation Secretary Toks Omishakin. “By tackling congestion and enhancing connectivity, we are creating a brighter, more sustainable California for all.”

“The Commission is pleased to partner with Caltrans to continue investing in California’s world-class transportation system,” said Commission Chair Darnell Grisby. “The investments we are making today will improve safety, ease congestion and reduce out-of-pocket costs for everyone in California.”

Projects receiving funding announced today include:

$483 million to help communities invest in passenger rail extensions, bicycle and pedestrian safety and rapid transit bus expansion

$202 million for projects in the Local Partnership Competitive Program to further upgrade rail, transit, bicycle, and pedestrian facilities

$63 million for improvements to the Ramona Expressway in Riverside County, including a new bridge over the San Jacinto River, bike lanes in each direction, and a new wildlife crossing

$49 million to build charging hubs in the cities of Fresno, Oakland, Ontario, and San Diego to support clean medium- and heavy-duty truck fleets

$28 million to install ultra-fast vehicle charging stations along Interstate 5 and State Route 99

$18 million for a variety of safety enhancements around five schools most affected by traffic congestion in the city of Los Angeles

SB 1 has invested approximately $5 billion annually toward transportation projects since its adoption. It provides funding split between the state and local agencies.
Press releases, Recent news
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Jun 27, 2025

News Sacramento, California – Governor Gavin Newsom issued the following statement today after the U.S. Supreme Court announced its ruling on Trump v. CASA, Trump v. Washington, and Trump v. New Jersey: In a challenge to the Trump Administration’s blatantly…

Jun 26, 2025

News SACRAMENTO – Governor Gavin Newsom today announced the following appointments:Kira Younger, of Fair Oaks, has been appointed Chief Financial Officer and Director of the Finance and Accounting Division at the California Department of Social Services. Younger has…

Jun 26, 2025

News What you need to know: La Passeggiata on Lindsey Street in Stockton is the latest site to be transformed from excess, underutilized state land into affordable housing under Governor Newsom’s executive order. STOCKTON — Today, state leaders broke ground on a new…

MIL OSI USA News –
June 28, 2025
MIL-OSI Europe: Reinforcing global partnerships for development finance: EIB Group in Seville

Source: European Investment Bank

The European Investment Bank Group (EIB) President Nadia Calviño, Vice-President Ambroise Fayolle and Andrew McDowell Director General of EIB Global, the group’s specialised arm devoted to increasing the impact of international partnerships and development finance, will be leading the EIB’s delegation to the 4th United Nations International Conference on Financing for Development in Seville, Spain from Sunday, June 29^th until Thursday, July 3^rd.

The EIB will announce new partnerships to boost g support for women’s health, entrepreneurship, and sustainable economic development across key global regions and sectors..contributing to the EU’s Global Gateway strategy for women’s empowerment and gender equality.

The EIB will also join an initiative lead by the Government of Spain, the Debt Pause Clause Alliance, to promote debt pause clauses in vulnerable countries. In the past year, the EIB has introduced this possibility for more than 70 countries. The press conference on this will be livestreamed here on Tuesday July 1^st at 3PM (CET).

The EIB will join the initiative led by the Global Alliance Against Hunger and Poverty, which will focus on scaling up finance for climate-resilient social protection and smallholder agriculture, formalise a partnership with the World Food Programme (WFP) to bridge investment gaps and increase the impact of multilateral project financing, and renew its memorandum of understanding with the UN Food and Agriculture Organisation (FAO) to jointly transform food systems. The press conference on the initiative against poverty and hunger will be livestreamed here on Tuesday July 1^st at 10:30AM (CET).

Together with other multilateral development banks the EIB will launch a new report on water financing. As a top multilateral financier in the sector, the EIB will further strengthen its support for access to safe water for everyone, everywhere through its upcoming Water Resilience Programme, which foresees an investment of 15 billion euros from now to 2027. This is also in line with the commitment adopted by MDBs in December last year to significantly increase support for the water sector over the five years from 2025 to 2030, particularly in vulnerable regions. It serves as a great example of MDBs working together as a system.

The EIB will also be convening, together with the Glasgow Financial Alliance for Net Zero (GFANZ), multilateral development banks and private sector leaders to boost concrete action for scaling up private investment in emerging markets and developing economies.

The EIB will also be unveiling several new financing deals, that are part of the EU’s Global Gateway strategy, and Memorandums of Understanding with partners across the world, including UN agencies and fellow multilateral development institutions. The EIB will also publish its 2024 Global Impact Report during the Summit.

“This is a very timely opportunity to reinforce Europe’s global partnerships for prosperity, win-win outcomes and peace, and to ensure that the most vulnerable are not left behind,” said President Calviño.

In case of interview requests for EIB’s principals in Seville, please contact:

Monica Faro (m.faro@eib.org, +34 678 37 7117)

Shirin Wheeler (s.wheeler@eib.org, +32 474 242 494)

MIL OSI Europe News –

June 28, 2025
MIL-OSI Europe: EIB Group and European Commission simplify application of State Aid rules to support Europe’s clean industry and hold roundtable with business leaders
Source: European Investment Bank

EIB

The European Investment Bank Group and the European Commission agreed to simplify State aid rules in relation to EIB Group financing, in a step to further facilitate support for Europe’s industry and economic competitiveness.

The agreement confirms that financing by the EIB Group from its own resources falls outside the scope of EU State aid rules. The accord also eases conditions for joint investments by Member States and the EIB Group and speeds up the deployment of the InvestEU programme.

The agreement takes place within the broader European Union framework to prevent governmental support for companies from distorting markets. The accord reinforces the EIB Group’s ability to channel investments that advance EU policy goals, such as the Clean Industrial Deal, while safeguarding the European single market.

The Clean Industrial Deal is the Commission’s plan to strengthen the competitiveness and resilience of European industry by accelerating decarbonisation and securing the future of manufacturing in Europe. As the financial arm of the EU, the EIB Group plays a key role in mobilising private investment advancing climate action and industrial competitiveness in Europe.

Clean Industrial Deal State Aid Framework

On 25 June 2025, the Commission adopted a new state-aid framework supporting the Clean Industrial Deal (CISAF) to enable Member States to push forward the development of clean energy, industrial decarbonisation and clean technology.

The EIB Group-Commission accord on State aid rules has three main elements:
- The agreement ensures that financing provided by the EIB Group from its own resources falls outside the scope of state-aid rules along with all its consequences. This is particularly relevant for Important Projects of Common European Interest (IPCEIs), which are critical to Europe’s strategic autonomy in areas like clean technologies and advanced manufacturing. Under the agreement, EIB Group financing will not count toward State aid thresholds for IPCEIs, making it easier to combine funding sources and scale up ambition.
- The accord facilitates co-investments by Member States and the EIB Group. When the EIB Group participates in a project that also receives support from a Member State, the required level of private-sector participation – when relevant for state-aid purposes – will be reduced by half if accompanied by an equivalent amount from the EIB Group. This principle is already reflected in CISAF and highlights the EIB Group’s role as a market reference and a catalyst for additional investment. It will facilitate equity co-investment programs with Member States, including in early-stage funds, funds managed by first-time investment teams and funds in European regions with less a developed venture capital ecosystem.
- The agreement facilitates and accelerates the deployment of the InvestEU programme, for which the EIB Group has already mobilised billions of euros in investments for innovation, sustainability, competitiveness, and social inclusion. This paves the way for a new equity co-investment product under InvestEU and sets the stage for a review of the guarantee agreement to streamline State aid provisions in line with evolving policy priorities.
Cleantech

The EIB Group boosts the Clean Industrial Deal and strengthens Europe’s leadership in technology through TechEU, the EU’s largest financing programme to date in support of innovation, with the goal to attract talent, capital and investment in Europe. These actions include the reinforcement of cross guarantees for wind energy production and three new instruments to strengthen Europe’s competitiveness:
- A €1.5 billion package to provide counter-guarantees through partner banks to grid component manufacturers to ensure sustainable supply, giving companies greater certainty to ramp up production of electricity networks across Europe. This will facilitate the integration of renewable energy into the grid and the delivery of affordable power to EU businesses and households.
- To help ensure predictable and affordable energy costs for businesses and accelerate investments in green energy, the EIB and Commission are launching a €500 million pilot programme to support the take-up of more corporate power purchase agreements (PPAs). The EIB will counter-guarantee, through partner banks, part of the PPAs undertaken by mid-sized as well as larger energy-intensive companies for the long-term purchase of electricity generation from clean sources.
- To provide liquidity and working capital for highly innovative small and medium-sized enterprises active in developing green technologies, the EIB and Commission are launching a €250 million CleantechEU guarantee scheme.
- A €1.5 billion top-up to a successful EIB programme supporting European wind turbine and component manufacturers.
President Nadia Calviño and Commission Executive Vice-President Teresa Ribera also hosted today a roundtable on Investing in Europe’s Clean Future in Brussels with key financial and industrial stakeholders on mobilising private investments for a resilient, decarbonised European industry.

Statements from the roundtable are available on EBS.

EIB Group and European Commission simplify application of State Aid rules to support Europe’s clean industry and hold roundtable with business leaders

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EIB Group and European Commission simplify application of State Aid rules to support Europe’s clean industry and hold roundtable with business leaders

©EIB
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EIB Group and European Commission simplify application of State Aid rules to support Europe’s clean industry and hold roundtable with business leaders

©EIB
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EIB Group and European Commission simplify application of State Aid rules to support Europe’s clean industry and hold roundtable with business leaders

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MIL OSI Europe News –
June 28, 2025
MIL-OSI: CWB Wealth Announces Risk Rating Change to CWB Onyx North American Equity Fund

Source: GlobeNewswire (MIL-OSI)

EDMONTON, Alberta, June 27, 2025 (GLOBE NEWSWIRE) — CWB Wealth Management Ltd. (“CWB WM”), the manager of the CWB Onyx North American Equity Fund (the “Fund”), announced today the following risk rating change:

CWB Mutual Fund Current Rating New Rating Direction of Change

CWB Onyx North American Equity
Fund Low to Medium Medium Higher

This change became effective on June 27, 2025, and will be reflected in the Fund’s renewal fund facts, which are expected to be filed on or about June 27, 2025.

CWB WM reviews the risk rating for the Fund on an annual basis, or if there has been a material change to the Fund’s investment objectives or investment strategies. The above noted change is the result of an annual review and is not the result of any changes to the investment objectives, strategies, or management of the Fund.

CWB WM uses the standardized investment risk classification methodology contained in National Instrument 81-102 Investment Funds.

About CWB Wealth Management

CWB WM is a subsidiary of National Bank of Canada, a diversified financial services group providing specialized services in business and personal banking, trust and wealth management across Canada. CWB WM provides discretionary portfolio management and investment advisory services, as well as financial planning products and services. We provide a range of investment services and solutions to institutional, high-net-worth and individual investors including mutual funds, pooled funds and separately managed accounts.

For more information:

For further information about CWB WM or the Fund, please visit www.cwbwealth.com, email us at info@cwbwealth.com, or call us at 1-855-292-9655.

The MIL Network –

June 28, 2025
MIL-OSI: XRP Struggles at $2.4 Resistance as Investors Flock to PFMCrypto’s Cloud Mining Contracts
Source: GlobeNewswire (MIL-OSI)

Farington, England, June 27, 2025 (GLOBE NEWSWIRE) — Innovative XRP Mining passive income model gains traction during XRP’s consolidation phase.

XRP continues to face strong resistance at the $2.4 price level, having dipped below $2 last month amid declining network activity, shrinking futures interest, and bearish technical indicators. However, PFMCrypto’s newly launched XRP cloud mining contracts are injecting fresh energy into the ecosystem by offering investors an alternative revenue stream.

Visit PFMCrypto’s official website: https://pfmcrypto.net

Revolutionizing XRP Mining Without Hardware

Unlike proof-of-work blockchains, XRP’s consensus protocol traditionally excludes mining opportunities. PFMCrypto bridges this gap through its simulated cloud mining platform, where users can earn daily XRP rewards through flexible mining contracts – no technical knowledge or equipment required.

Key Features of PFMCrypto’s XRP Cloud Mining Contracts:
- No Hardware Needed: Open to all users—no mining equipment or technical setup required
- Daily Earnings: Withdraw mining rewards daily based on active contracts
- Secure Custody: Assets protected by PFMCrypto’s industry-grade security protocols
- Customizable contracts: From $10 to $100,000 investments with 1-50 day terms
Tailored Mining Solutions for All Investors
- PFMCrypto offers tiered plans to suit any portfolio:
- Entry-level: $100 for 2 days → Earn $3/day (+$2 bonus)
- Mid-range: $1,000 for 9 days → Earn $13.10/day
- Premium: $5,000 for 30 days → Earn $78.50/day
- VIP: $10,000 for 40 days → Earn $180/day
“Our AI-driven platform automatically optimizes for the most profitable coins, ensuring consistent returns regardless of market conditions,” explains a PFMCrypto representative.

Click here to explore XRP mining contracts

Why Choose PFMCrypto?
- 100% Remote & User-Friendly – No technical knowledge or expensive equipment needed.
- Principal Protection – Full investment refund upon contract maturity.
- AI-Optimized Earnings – Proprietary AI system automatically switches to high-yield coins based on market conditions, maximizing profitability in any market.
- Daily Payouts – Predictable fixed earnings distributed every 24 hours.
A Catalyst for XRP’s Growth?

“PFMCrypto’s launch comes at a pivotal time for XRP,” said a company representative. “By offering transparent, easy-to-use mining solutions, we help investors stay engaged while supporting broader ecosystem activity.”

How to Start XRP Mining with PFMCrypto
1. Sign Up: Register now to receive a $10 welcome bonus and a $0.60 daily check-in reward.
Click here to create an account.
1. Choose a Contract: Select a mining plan that fits your budget and financial goals. PFMCrypto caters to both beginners and advanced investors.
2. Start Earning: Once activated, PFMCrypto’s smart platform handles the rest, ensuring smooth, efficient mining operations to maximize your returns.
About PFMCrypto

Founded in 2018, PFMCrypto is a global leader in AI-powered cloud mining, providing secure and transparent opportunities for digital asset growth. With operations spanning 190+ countries, PFMCrypto supports mining contracts for XRP, BTC, ETH, LTC, DOGE, and SOL. Its cutting-edge technology and customer-first approach have earned the trust of over 9.2 million users worldwide.

Whether you’re a seasoned investor or new to crypto, PFMCrypto offers a hassle-free way to earn stable returns—even amid market volatility.

Explore XRP cloud mining at: https://pfmcrypto.net

Disclaimer: The information provided in this press release does not constitute an investment solicitation, nor does it constitute investment advice, financial advice, or trading recommendations. Cryptocurrency mining and staking involve risks and the possibility of losing funds. It is strongly recommended that you perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.

The MIL Network –
June 28, 2025
MIL-OSI Canada: Strong year-end surplus for a stronger Alberta
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Alberta closed the 2024-25 fiscal year with its fourth consecutive surplus, totalling $8.3 billion. The increase is largely due to higher-than-expected resource revenues, corporate and personal income tax revenue and impressive investment income. In the face of rapidly changing economic conditions this year due to global trade challenges, the government will use the surplus to fortify Alberta’s economic position, repay debt and save for the future.

“Alberta’s financial strength isn’t just luck, it’s the result of disciplined decisions and a clear commitment to responsible government. While others reach for higher taxes and more debt, we’re focused on stability, savings and respect for the people who keep Alberta’s economy moving. That means more security for families, more opportunity for young people, and stronger communities across our province. In uncertain times, Alberta showing this kind of economic leadership is important.”

Danielle Smith, Premier

“This surplus shows Alberta’s strength. The road ahead may be rough, but Alberta is built to last. We’re paying down debt, saving for the future and backing the services Albertans count on. This surplus lets us save smart, spend wisely and stand strong for the long haul.”

Nate Horner, President of Treasury Board and Minister of Finance

Alberta’s economy expanded at a steady pace in 2024, supported by increased pipeline capacity through the spring opening of the Trans Mountain pipeline, record crude oil production and increased natural gas production. The price of West Texas Intermediate oil averaged $74.34 per barrel over the year, slightly higher than the $74 per barrel forecast in Budget 2024. A narrower light-heavy differential, which increases the price of Alberta’s heavy crude oil, plus a lower exchange rate also propelled higher returns for the energy sector. As a part of a Canada-wide settlement, a $713-million payment from three major Canadian tobacco companies also contributed to the surplus.

Rapid population growth and falling interest rates bolstered the provincial economy. Alberta remained the fastest-growing province in Canada in 2024. With population growth, Alberta saw strong employment gains fuelled by full-time and permanent jobs, which led to more employed Albertans contributing to the tax base. To relieve added pressure on hospitals, schools and infrastructure, the government provided record funding for health care and education and continued to invest in the priorities of Albertans.

When disaster hit, Alberta’s government answered the call. The government delivered $1.9 billion in disaster relief, including $702 million to fight wildfires, $191 million for evacuation and recovery, and $1 billion to support drought-hit farmers and producers.

After calculations and adjustments, Alberta ended the year with a $5.1-billion in surplus cash. Following the province’s mandated fiscal framework, half – or $2.6 billion – will go towards improving the province’s net financial position, either through debt repayment or savings in the Alberta Heritage Savings Trust Fund. The other half will be allocated to the Alberta Fund for future use. This can include further debt payments, more savings or one-time initiatives.

Revenue

Revenue in 2024-25 was $82.5 billion, $8.9 billion more than estimated in Budget 2024, including:
- $22.0 billion in non-renewable resource revenue, up from $17.3 billion at budget.
  - The increase was primarily driven by higher bitumen royalties due to narrower light-heavy oil price differentials and lower exchange rates.
- $30.4 billion in tax revenue, $1.7 billion higher than estimated in Budget 2024. This included:
  - $8.1 billion in corporate income tax, $1.1 billion more than at budget, even as the province maintained the lowest corporate income tax rate in the country.
  - A record high of $16.1 billion in personal income tax, $0.5 billion more than estimated in Budget 2024, in large part because of strong growth in personal incomes and Alberta’s growing population.
Expense

Expense in 2024-25 was $74.1 billion, $967 million more than estimated in Budget 2024, including:
- $29.6 billion in health expense, a 2.9 per cent increase from budget, as the province began refocusing the health system to better meet the needs of patients and families, provide more surgeries, recruit more doctors and provide lab services.
- $17.2 billion for education, or a 1.1 per cent increase from budget, including:
  - $9.9 billion for K-12 education, with more money to hire more teachers as enrolment increased.
  - $7.2 billion for post-secondary institutions to increase seats in high-demand areas, including apprenticeship training.
- $1.9 billion for disaster relief and emergency supports.
Debt

The province ended the year with taxpayer-supported debt of $85.2 billion. Total debt-servicing costs were $3.2 billion in 2024-25, down $0.2 billion from budget because of lower-than-expected borrowing requirements.

Oil Prices
- A barrel of West Texas Intermediate averaged US$74.34 per barrel in 2024-25, slightly higher than the US$74 per barrel forecast in Budget 2024.
- The light-heavy oil price differential averaged US$13.06 per barrel in 2024-25, $2.94 narrower than estimated in budget, influenced by increased demand for heavier crude and the completion of the TMX expansion project.
Alberta Heritage Savings Trust Fund

The province grew the market value of the Heritage Fund to a record high of $27.2 billion as of March 31, 2025. The Heritage Fund grew by $4.2 billion last year, fuelled by $1.9 billion in investment income and $2 billion in surplus cash reinvested from 2023-24. This growth supports Alberta’s bold plan to reach $250 billion by 2050 while diversifying the economy for a stronger future.

Through responsible fiscal management, Alberta is building a stable economic foundation and saving for a secure tomorrow. No matter the challenges ahead, Alberta has the resources and resilience to protect its prosperity.

Related information
- Budget 2024: A responsible plan for a growing province
Related news
- Q2 update: Under Pressure (Nov. 21, 2024)
- Q1 update: Continued fiscal growth (Aug. 31, 2023)
Multimedia
- Watch the news conference
MIL OSI Canada News –
June 28, 2025
MIL-OSI Security: Waterbury Drug Trafficker Sentenced to More Than 17 Years in Federal Prison

Source: US FBI

David X. Sullivan, United States Attorney for the District of Connecticut, announced that DANIEL DIAZ-RIVERA, also known as “Danny,” “Lupin,” “Lupito,” and “L,” 33, of Waterbury, was sentenced today by U.S. District Judge Michael P. Shea in Hartford to 210 months of imprisonment, followed by four years of supervised release, for heading a Waterbury drug trafficking organization.

According to court documents and statements made in court, the FBI’s Waterbury Safe Streets Gang Task Force and other law enforcement agencies investigated two drug trafficking organizations based in the city of Waterbury. One organization was headed by Angel Quiros, also known as “Papa John,” and operated in the area of William Street, and the other was headed by Diaz-Rivera and operated in the area of Maple Avenue. The investigation, which included court-authorized wiretaps on multiple phones, video surveillance, GPS tracking of vehicles, and numerous controlled purchases of narcotics, revealed that the two organizations distributed cocaine, crack, and fentanyl through a network of sellers. The organizations shared sources of supply and worked together to further their operations.

The Diaz-Rivera organization sold crack and fentanyl all hours of the day and night outside of a bodega on Maple Avenue in Waterbury. Diaz-Rivera oversaw several shift bosses who, in turn, oversaw street-level distributors. During the investigation, investigators made two controlled purchases of crack directly from Diaz-Rivera. Diaz-Rivera used violence and threats to control others in connection with his drug distribution network.

Quiros, Diaz-Rivera, and 15 other individuals were charged with federal offenses as a result of the investigation. Diaz-Rivera and several codefendants were arrested on November 29, 2023. In association with the arrests, investigators executed multiple search warrants and seized approximately 700 grams of crack cocaine, more than 900 vials (“caps”) of crack, approximately 200 grams of loose fentanyl, more than 1,600 dose bags of fentanyl/heroin, two stolen firearms, numerous rounds of ammunition, and more than $39,000 in cash, including more than $13,000 that was found in Diaz-Rivera’s vehicle.

On January 24, 2025, Diaz-Rivera pleaded guilty to conspiracy to distribute and to possess with intent to distribute 500 grams or more of cocaine. He has been detained since his arrest.

Quiros pleaded guilty to the same charge on February 11, 2025, and awaits sentencing.

The FBI’s Waterbury Safe Streets Gang Task includes members from the FBI, the Waterbury Police Department, the Naugatuck Police Department, and the Connecticut Department of Correction. The DEA, U.S. Marshals Service, Homeland Security Investigations (HSI), Connecticut State Police, Wolcott Police Department, and Meriden Police Department have assisted the investigation.

This case is being prosecuted by Assistant U.S. Attorneys Natasha Freismuth and Shan Patel through the Organized Crime Drug Enforcement Task Forces (OCDETF) Program. Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF.

U.S. Attorney Sullivan thanked the Waterbury State Attorney’s Office for its cooperation in the investigation and prosecution of this case.

MIL Security OSI –

June 28, 2025
MIL-OSI Security: Waterbury Drug Trafficker Sentenced to More Than 17 Years in Federal Prison

Source: US FBI

David X. Sullivan, United States Attorney for the District of Connecticut, announced that DANIEL DIAZ-RIVERA, also known as “Danny,” “Lupin,” “Lupito,” and “L,” 33, of Waterbury, was sentenced today by U.S. District Judge Michael P. Shea in Hartford to 210 months of imprisonment, followed by four years of supervised release, for heading a Waterbury drug trafficking organization.

According to court documents and statements made in court, the FBI’s Waterbury Safe Streets Gang Task Force and other law enforcement agencies investigated two drug trafficking organizations based in the city of Waterbury. One organization was headed by Angel Quiros, also known as “Papa John,” and operated in the area of William Street, and the other was headed by Diaz-Rivera and operated in the area of Maple Avenue. The investigation, which included court-authorized wiretaps on multiple phones, video surveillance, GPS tracking of vehicles, and numerous controlled purchases of narcotics, revealed that the two organizations distributed cocaine, crack, and fentanyl through a network of sellers. The organizations shared sources of supply and worked together to further their operations.

The Diaz-Rivera organization sold crack and fentanyl all hours of the day and night outside of a bodega on Maple Avenue in Waterbury. Diaz-Rivera oversaw several shift bosses who, in turn, oversaw street-level distributors. During the investigation, investigators made two controlled purchases of crack directly from Diaz-Rivera. Diaz-Rivera used violence and threats to control others in connection with his drug distribution network.

Quiros, Diaz-Rivera, and 15 other individuals were charged with federal offenses as a result of the investigation. Diaz-Rivera and several codefendants were arrested on November 29, 2023. In association with the arrests, investigators executed multiple search warrants and seized approximately 700 grams of crack cocaine, more than 900 vials (“caps”) of crack, approximately 200 grams of loose fentanyl, more than 1,600 dose bags of fentanyl/heroin, two stolen firearms, numerous rounds of ammunition, and more than $39,000 in cash, including more than $13,000 that was found in Diaz-Rivera’s vehicle.

On January 24, 2025, Diaz-Rivera pleaded guilty to conspiracy to distribute and to possess with intent to distribute 500 grams or more of cocaine. He has been detained since his arrest.

Quiros pleaded guilty to the same charge on February 11, 2025, and awaits sentencing.

The FBI’s Waterbury Safe Streets Gang Task includes members from the FBI, the Waterbury Police Department, the Naugatuck Police Department, and the Connecticut Department of Correction. The DEA, U.S. Marshals Service, Homeland Security Investigations (HSI), Connecticut State Police, Wolcott Police Department, and Meriden Police Department have assisted the investigation.

This case is being prosecuted by Assistant U.S. Attorneys Natasha Freismuth and Shan Patel through the Organized Crime Drug Enforcement Task Forces (OCDETF) Program. Additional information about the OCDETF Program can be found at https://www.justice.gov/OCDETF.

U.S. Attorney Sullivan thanked the Waterbury State Attorney’s Office for its cooperation in the investigation and prosecution of this case.

MIL Security OSI –

June 28, 2025
MIL-OSI: BTC Miner Offers Passive Income Platform with Million-Dollar Potential

Source: GlobeNewswire (MIL-OSI)

New York City, June 27, 2025 (GLOBE NEWSWIRE) — BTC Miner, a leading global cloud mining platform, officially launches a new high-yield cloud mining contract, providing digital asset holders with a passive income channel that requires no trading and is immune to market fluctuations, with daily earnings potential of up to $1 million.

Increasing Market Volatility Drives High Demand for Stable Income

As the cryptocurrency market experiences frequent volatility, the prices of major digital assets like Bitcoin, Ethereum, Ripple, and Dogecoin have fluctuated dramatically, leading to market panic and forcing many investors to exit or suffer significant losses. In response to this, BTC Miner has introduced a new high-yield cloud mining contract. Operating based on a smart contract mechanism, it is independent of price fluctuations, allowing investors to earn stable returns without any trading activities. Regardless of market volatility, BTC Miner ensures daily returns of up to $1 million, addressing investors’ need for steady income in a turbulent market.

$500 Registration Bonus and Referral Reward Mechanism for Increased Earnings

To further encourage new users to join and expand their investment options, BTC Miner offers a $500 registration bonus. New users can use this $500 to purchase a contract and start mining immediately. Additionally, BTC Miner has implemented a referral reward mechanism where users can earn 7% of the investment amount from those they refer, accelerating their earning potential.

FCA Certification Ensures Security and Compliance

BTC Miner is a fully FCA-regulated platform, ensuring compliance and providing a secure environment for investments. All user information and funds are encrypted with SSL technology, and the platform offers insurance for every investment, ensuring full protection for user funds.

How to Earn on BTC Miner

Through BTC Miner: https://btcminer.net to register as a member, investors can select from various contract plans, earning passive income daily. The platform supports multiple cryptocurrency payments, including USDT-TRC20, BTC, ETH, LTC, USDC, XRP, USDT-ERC20, BCH, DOGE, and SOL (Solana). Users simply choose a plan, and the system automatically manages mining operations and profit distribution. Earnings are settled daily and directly deposited into your account, without concerns about market volatility.

Investor Testimonials: Real Stories of Earnings with BTC Miner

“I invested in BTC Miner’s cloud mining contract, and the platform is easy to use with stable returns. Despite market fluctuations, my earnings have remained unaffected.” — John, an investor from the United States.

“I used BTC Miner’s referral reward mechanism, earning additional income by inviting friends. The stable monthly returns provided by the platform have greatly boosted my confidence in investing.” — Sarah, an investor from the United Kingdom.

Conclusion

In an uncertain market, BTC Miner provides a secure, stable investment opportunity, allowing investors to earn sustainable passive income without worrying about market volatility. If you’re looking for steady returns in the cryptocurrency space, BTC Miner is your trusted platform.

Register now, get a $500 bonus, and start your cloud mining journey today!

For more details, visit: https://btcminer.net

Media Contact
Name: Kevin Byers
City/Country: California, USA
Email: info@btcminer.net
Website: https://btcminer.net

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The MIL Network –

June 28, 2025
MIL-OSI Security: Kansas City Man Pleads Guilty for Computer Hacking

Source: US FBI

KANSAS CITY, Mo. – A Kansas City, Mo., man has pleaded guilty for hacking into the computer system at an area nonprofit.

Nicholas Michael Kloster, 32, admitted during his plea that he caused reckless damage to a protected computer owned by an area nonprofit during unauthorized access. Kloster admitted that he entered the premises of a nonprofit corporation on May 20, 2024. Kloster entered an area that is not available to the public and accessed a computer with access to the company’s network.

Kloster specifically admitted that he utilized a boot disk to access the computer through multiple user accounts. By accessing the computer in this manner, Kloster was able to circumvent the password requirements by changing the password assigned to one or more users. Kloster was then able to install a virtual private network on this computer. Since Kloster’s intrusion into its computer and its network, the company has sustained significant losses in an attempt to remediate the effects from this intrusion.

Under federal statutes, Kloster is subject to a sentence of up to five years’ imprisonment in federal prison without parole, a fine of up to $250,000, up to three years of supervised release, and an order of restitution. The maximum statutory sentence is prescribed by Congress and is provided here for informational purposes, as the sentencing of the defendant will be determined by the court based on the advisory sentencing guidelines and other statutory factors. A sentencing hearing will be scheduled after the completion of a presentence investigation by the United States Probation Office.

This case is being prosecuted by Assistant U.S. Attorneys Nicholas Heberle and Patrick D. Daly. It was investigated by the Federal Bureau of Investigation and the Kansas City, Missouri Police Department.

###

MIL Security OSI –

June 28, 2025
MIL-OSI USA: Senator Hassan Launches Investigation into GSK on Impact of Its Discontinuation of Children’s Asthma Inhaler

US Senate News:

Source: United States Senator for New Hampshire Maggie Hassan
WASHINGTON – One year after GlaxoSmithKline (GSK) pulled the Flovent HFA inhaler from the market, U.S. Senator Maggie Hassan (D-NH), Ranking Member of the Senate Finance Subcommittee on Health Care, is continuing her oversight of the company by launching an investigation into its decision to discontinue the inhaler – which had been the most prescribed controller inhaler for young children with asthma.
After its discontinuation, GSK worked with a different company, Prasco Laboratories, to distribute the same inhaler under a different name – which not only created a greater expense for many patients, but also allowed GSK to avoid an estimated $367.6 million in rebates to Medicaid in 2024 alone. With fewer and more expensive inhaler options available in the year following the discontinuation of Flovent HFA, children across the country faced life-threatening medical challenges, with reports noting significant increases in asthma-related hospitalizations and ICU admissions.
“As families continue to battle sky-high prescription drug costs, we must not only lower costs, but also ensure that companies cannot abuse the system to enrich their profit margins and rip off taxpayers,” said Senator Hassan. “One year later, GSK’s decision to discontinue the most prescribed inhaler for young children with asthma and allow a different company to sell the same product in a more expensive form has threatened the lives of children in New Hampshire and across the country. GSK has a responsibility to answer for its actions, and we need to ensure that other companies can’t follow their lead in evading Medicaid payments. As I launch this investigation, I also continue to urge GSK to restore Flovent HFA to the market and work with Prasco to lower the price of the inhaler available today so that individuals suffering from asthma can access this life-saving treatment.”
Senator Hassan’s new investigation into GSK and Prasco follows her May 2024 push to get GSK to restore Flovent HFA and explain why it decided to discontinue Flovent HFA while leaving other brand-name inhaler products on the market and capping their prices. As Senator Hassan writes today, GSK’s response “failed to offer a convincing explanation for why it decided to discontinue Flovent HFA while leaving other brand-name inhaler products on the market and capping their prices.” Since discontinuing Flovent HFA, GSK and Prasco have not offered the same discounts and rebates for the authorized generic, leading major insurers and pharmacy benefit managers (PBMs) to delay or deny coverage of the authorized generic.
In addition to adverse outcomes for patients, GSK’s decision to discontinue Flovent HFA has resulted in significant economic consequences, as outlined in Senator Hassan’s request to GSK:
GSK avoided an estimated $367.6 million in rebates to Medicaid in 2024 alone by discontinuing Flovent HFA. Instead of receiving these rebates, Medicaid spent an estimated $551.8 million on the authorized generic for 2024.
Physicians have reported that even individuals with insurance coverage for the authorized generic have paid as much as $150 for a single inhaler.
The overall burden of childhood asthma costs the U.S. health care system an estimated $6 billion per year.
Click to read Senator Hassan’s letters to GSK and to Prasco Laboratories.

MIL OSI USA News –

June 28, 2025
MIL-OSI Canada: Defence Minister McGuinty concludes productive visit to Europe

Source: Government of Canada News (2)

June 27, 2025 – Riga, Latvia – National Defence / Canadian Armed Forces

Yesterday, the Honourable David J. McGuinty, Minister of National Defence, concluded a successful visit to Latvia, where he met with Latvian Minister of Defence Andris Sprūds, participated in a flower laying ceremony, and attended the first Transfer of Command Authority ceremony of the Canada-led North Atlantic Treaty Organization (NATO) Multinational Brigade in Latvia (MNB-LVA) since its establishment last year.

During his meeting in Riga, Minister McGuinty reaffirmed Canada’s unwavering commitment to NATO’s deterrence and defence posture through the MNB-LVA. The Ministers discussed concrete opportunities to deepen defence cooperation following Canada’s June 9 defence investment announcement and underscored the importance of closer collaboration through initiatives such as Readiness 2030 (formerly ReArm Europe).

Minister McGuinty also attended the MNB-LVA Transfer of Command Authority ceremony at Ādaži Military Base, which saw Colonel Kris Reeves assume command of the 14-nation Brigade from Colonel Cédric Aspirault. The Minister was joined by Minister Sprūds, Lieutenant-General Steve Boivin, Commander of the Canadian Joint Operations Command, and Major General Jette Albinus, Commander of Multinational Division North, among other distinguished guests. Minister McGuinty also took the opportunity to thank Canadian Armed Forces (CAF) members deployed in Latvia for their dedication and service.

This historic transition marks a milestone in Canada’s contribution to NATO’s largest reinforcement to collective defence in a generation. Canada’s contributions to the Brigade support Operation REASSURANCE, the CAF’s largest overseas mission, which plays a critical role in NATO’s deterrence and defence posture in Central and Eastern Europe.

Prior to his visit to Latvia, Minister McGuinty joined Prime Minister Mark Carney and Minister of Foreign Affairs Anita Anand at the Canada-European Union (EU) and NATO Summits, where they reaffirmed Canada’s commitment to European defence and reinforced Canada’s support for Ukraine.

At the Canada-EU Summit, Ministers McGuinty and Anand signed the Canada-EU Security and Defence Partnership (SDP), strengthening Canada-EU ties and enhancing security cooperation. The SDP provides a framework for dialogue and co-operation in security and defence priorities. For Canada and the EU Member States who are also NATO Allies, this will help deliver on capability targets more quickly and economically. This new partnership is the first step toward Canada’s participation in Security Action for Europe (SAFE), an instrument under Readiness 2030, which will create significant defence procurement and industrial opportunities for Canada.

On the margins of the Canada-EU Summit, Minister McGuinty met with Belgian Minister of Defence Theo Franken as well as High Representative for Foreign Affairs and Security Policy and Vice-President of the European Commission Kaja Kallas. Together, they highlighted the importance of transatlantic security and welcomed the signature of the Canada-EU SDP.

At the NATO Leaders’ Summit on June 24–25, in The Hague, Prime Minister Carney and Minister McGuinty reaffirmed Canada’s strong commitment to NATO and Euro-Atlantic security. Alongside their counterparts, they endorsed a new Defence Investment Pledge—outlined in the Leaders’ Declaration—committing Allies to invest five percent of GDP in defence by 2035, including at least 3.5 percent for core military spending and 1.5% for defence-related expenditures.

Minister McGuinty also held several bilateral meetings with key Allies to advance defence cooperation. On June 24, he signed a Letter of Intent (LOI) for Canada to join a NATO project regarding cooperation on establishing a multinational capacity for stockpiling of defence critical raw materials. This project will help showcase Canada’s advantage in critical minerals, while supporting Canadian defence industries and improving supply chain security across the Alliance.

Minister McGuinty also joined Danish Defence Minister Troels Lund Poulsen, German Defence Minister Boris Pistorius, and Norwegian Defence Minister Tore O. Sandvik in signing a LOI welcoming Denmark to the Maritime Security Partnership (MSP). It was established between Canada, Germany, and Norway on the margins of last year’s NATO Summit in Washington, D.C. This expanded cooperation builds on the MSP’s core pillars—innovation, materiel cooperation, industry resilience, and joint training—and strengthens maritime security in the North Atlantic.

MIL OSI Canada News –

June 28, 2025

MIL-OSI USA: S. 298, Returning SBA to Main Street Act

Source: US Congressional Budget Office

Bill Summary

S. 298 would require the Small Business Administration (SBA) to relocate 30 percent of its employees from its headquarters in Washington, D.C., to regional offices throughout the United States and reduce its headquarters office space by 30 percent. Those changes would be contingent upon the agency determining that they would reduce costs to the federal government.

Estimated Federal Cost

The estimated budgetary effect of S. 298 is shown in Table 1. The costs of the legislation fall within budget function 370 (commerce and housing credit).

Table 1. Estimated Changes in Spending Subject to Appropriation Under S. 298
	By Fiscal Year, Millions of Dollars
	2025	2026	2027	2028	2029	2030	2025-2030
Salaries and Benefits
Estimated Authorization	*	-4	-10	-8	-2	-2	-26
Estimated Outlays	*	-3	-9	-9	-3	-2	-26
Overhead Expenses
Estimated Authorization	0	5	6	-5	-5	-5	-4
Estimated Outlays	0	4	6	-3	-5	-5	-3
Total Changes
Estimated Authorization	*	1	-4	-13	-7	-7	-30
Estimated Outlays	*	1	-3	-12	-8	-7	-29

Basis of Estimate

CBO assumes that S. 298 will be enacted near the end of fiscal year 2025, that the SBA would not begin to relocate employees until 2026, and that the Congress would reduce annual appropriations by the estimated amounts each year. Outlays were estimated using historical obligation and spending rates.

Spending Subject to Appropriation

CBO estimates that implementing S. 298 would decrease spending subject to appropriation by $29 million over the 2025-2030 period. The Congress appropriated $974 million for the SBA’s administrative expenses in fiscal year 2025.

Salaries and Benefits. S. 298 would require the SBA to relocate 30 percent of its employees currently assigned to work at the headquarters in Washington, D.C., to regional offices throughout the United States within one year and to adjust their compensation for the new location. Additionally, employees would no longer be allowed to telework unless they qualify for an accommodation under the Americans with Disabilities Act.

There are currently about 900 full-time employees assigned to work at the SBA headquarters; under the bill, about 270 employees would need to be relocated. CBO assumes that half of those employees would relocate in 2026, and half would choose to leave the agency. CBO expects that it would take about two years for the SBA to hire new employees at regional offices to replace those that leave the agency. The lag in hiring new employees accounts for about 50 percent of the estimated reduction in costs for salaries and benefits.

Salaries and benefits for federal employees vary by location. Based on information from the SBA, CBO expects that the average salaries and benefits of those employees in 2026 would decrease from about $208,000 to $201,000. Employees that relocate would be eligible to receive amounts to cover their household’s transportation expenses, temporary housing, and assistance with selling and purchasing a home.

Using information from the Department of Agriculture, which relocated two subagencies in 2019, CBO estimates that average relocation expenses would be about $70,000 per employee. Additionally, some employees that leave the SBA would be eligible for severance averaging about $55,000 per employee. After accounting for anticipated inflation, attrition, and the time required to hire new employees, CBO estimates that implementing S. 298 would reduce the costs of SBA’s salaries and benefits by $26 million over the 2025-2030 period. Any reduction in spending would be subject to future appropriations being reduced by the estimated amounts.

S. 298 also would require the SBA to report within six months on the number of employees at its headquarters who would be eligible to be relocated and a plan for implementing those changes. CBO estimates that the report would cost less than $500,000.

Overhead Expenses. S. 298 also would require the agency to reduce office space at its headquarters location by 30 percent within two years. Using information from the SBA, CBO estimates that overhead expenses (including rent, security, and telecommunications services) for the affected employees at SBA headquarters totaled about $6 million in 2025 compared to costs of about $1.5 million at regional offices for the same number of employees.

Finally, the SBA would require assistance from the General Services Administration (GSA) to locate and set up additional office space in regional offices. Using information from GSA, CBO estimates that the new working and meeting space, furniture and workstation purchases, and installation of information technology and audiovisual equipment would cost $10 million. CBO expects those costs would be incurred in 2026 and 2027.

After accounting for inflation, attrition, and the time required for hiring and acquiring space and under the assumption that the SBA would reduce its office space in Washington, D.C., CBO estimates that implementing the bill would reduce overhead costs for the SBA by $3 million over the 2025-2030 period. Any reduction in spending would be subject to future appropriations being reduced by the estimated amounts.

Uncertainty

CBO’s estimate of S. 298 is subject to uncertainty because determining how many employees would relocate and the costs associated with their relocation is uncertain. For example, if the SBA paid severance to those that choose to leave the agency, decided not to hire new employees to offset expected attrition, or paid higher or lower relocation expenses, the actual costs could be higher or lower than those estimated.

Additionally, if employees chose to retire and collect retirement benefits earlier than they would under current law, spending on retirement benefits, which are recorded in the budget as direct spending, would change.

Pay-As-You-Go Considerations

Enacting the bill would not affect direct spending or revenues; therefore, pay-as-you-go procedures do not apply.

Increase in Long-Term Net Direct Spending and Deficits

CBO estimates that enacting S. 298 would not increase net direct spending or on-budget deficits in any of the four consecutive 10-year periods beginning in 2036.

Mandates

The bill contains no intergovernmental or private-sector mandates as defined in the Unfunded Mandates Reform Act.

Federal Costs: Aurora Swanson

Mandates: Rachel Austin

Estimate Reviewed By

Justin Humphrey
Chief, Finance, Housing, and Education Cost Estimates Unit

Kathleen FitzGerald
Chief, Public and Private Mandates Unit

H. Samuel Papenfuss
Deputy Director of Budget Analysis

Phillip L. Swagel

Director, Congressional Budget Office

MIL OSI USA News –

June 28, 2025

MIL-OSI: Kaanch Presale Surpasses $3 Million at $0.64—Recognized as the Best Crypto Opportunity of 2025

Source: GlobeNewswire (MIL-OSI)

DUBAI, United Arab Emirates, June 27, 2025 (GLOBE NEWSWIRE) — Kaanch has quickly come into the limelight and has attracted a lot of attention by investors and analysts who have now termed it as the best crypto to purchase. Kaanch has exceeded the presale amount of more than $3 million and is at stage 7 in its presale at a price of 0.64 per token with only 2 days left to the end of the presale. The number of whales entering is high, reminiscent of the early Ethereum days, with many now saying that Kaanch might become the Ethereum of 2025, and that it could rise up to 18,600%. This is propelled by the new listings on BitMart, LBank, and xT, which will be pegged at an outstanding 30 dollars per token.

Ethereum’s Early Days: A Missed Opportunity

The initial boom of Ethereum is already a legend, and those who invested in it at the very beginning experienced exponential growth. Kaanch is being compared to those early days today as investors who did not make it on Ethereum are rushing to Kaanch and not going to make the same mistake again. The presale has already garnered more than 3 million dollars, and this is evidence of how huge the demand is, and how well it qualifies as the best crypto in 2025. As the end of stage 7 approaches, and there are only two days left, the pressure to join is higher than ever.

Kaanch’s Presale: Final Hours, Massive Demand

Kaanch presale is on the seventh and last stage, selling at the price of 0.64 USD per token, and over 3 million dollars were raised already, and there are only two days left. The future listings on BitMart, LBank, and xT at a fixed price of 30 dollars per token will be a potential 4,600% gain. This explosive growth potential is fueling unprecedented demand, where more than 10,000 new wallets are created every week and whales are making huge purchases. The limited number of 58 million tokens also makes it scarce, which adds to the interest of the investors. To the people who want the best crypto, the window of Kaanch is narrowing quickly.

Unmatched Technology: Speed, Scalability, and Security

The technical basis of Kaanch is unique as it provides 1.4 million transactions per second and 0.8-second finality to execute trades instantly and smart contracts flows. It is economical to use near-zero gas fees on dApps, micropayments, and payments, and 3,600 decentralized nodes ensure high security and decentralization. The platform is highly competent in real-life asset tokenization, which allows businesses and individuals to make safe, instant transactions. SpyWolf and VerifyLab audited Kaanch, which is the most important aspect of investor confidence, making it the best crypto to adopt in enterprise and developer adoption.

Staking Rewards and Investor Incentives

Investors will also have the chance to earn yield by staking their tokens during the presale to earn up to 30 APY, which is immediately available. The live staking dashboard, open governance, and smooth blockchain integration are the main features that make Kaanch very appealing to any individual, as well as institutional investors. The presale is ending in only two days, and the listing price is going to be $30, so the chance to buy the best crypto at the price of $0.64 is fast fading away.

Act Now: Secure Your Allocation Before the Surge

The presale of Kaanch has already shown the huge demand, as more than 3 million dollars are raised, and whales are entering the game. With the listing on BitMart, LBank, and xT coming, early entry is becoming a thing of the past. Investors who want to participate in this project should visit the Kaanch presale site and invest in the presale which is already moving fast before it closes. By missing Kaanch at 0.64, there is a possibility of repeating the pain of missing the initial rise of Ethereum, history does not often give a second opportunity to catch the next best crypto before it takes off.

For more information about Kaanch Network ) visit the links below:

Website:https://presale.kaanch.com/
Whitepaper:https://docs.kaanch.network/
Twitter/X: https://x.com/KaanchNetwork
Telegram:https://t.me/kaanchnetwork
Win 1M: https://presale.kaanch.com/win-1-million
How to buy : https://presale.kaanch.com/how-to-buy

Disclaimer: This content is provided by Kaanch. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.Globenewswire does not endorse any content on this page.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/82ee79b6-0e35-4c72-8c25-ed9f63c73eb5
https://www.globenewswire.com/NewsRoom/AttachmentNg/714cf4b0-3537-4016-bd96-7f6283bb7cd8
https://www.globenewswire.com/NewsRoom/AttachmentNg/2017f78d-58cb-4f52-9b30-28c01126808d

The MIL Network –

June 28, 2025
MIL-OSI: Kaanch Presale Surpasses $3 Million at $0.64—Recognized as the Best Crypto Opportunity of 2025

Source: GlobeNewswire (MIL-OSI)

DUBAI, United Arab Emirates, June 27, 2025 (GLOBE NEWSWIRE) — Kaanch has quickly come into the limelight and has attracted a lot of attention by investors and analysts who have now termed it as the best crypto to purchase. Kaanch has exceeded the presale amount of more than $3 million and is at stage 7 in its presale at a price of 0.64 per token with only 2 days left to the end of the presale. The number of whales entering is high, reminiscent of the early Ethereum days, with many now saying that Kaanch might become the Ethereum of 2025, and that it could rise up to 18,600%. This is propelled by the new listings on BitMart, LBank, and xT, which will be pegged at an outstanding 30 dollars per token.

Ethereum’s Early Days: A Missed Opportunity

The initial boom of Ethereum is already a legend, and those who invested in it at the very beginning experienced exponential growth. Kaanch is being compared to those early days today as investors who did not make it on Ethereum are rushing to Kaanch and not going to make the same mistake again. The presale has already garnered more than 3 million dollars, and this is evidence of how huge the demand is, and how well it qualifies as the best crypto in 2025. As the end of stage 7 approaches, and there are only two days left, the pressure to join is higher than ever.

Kaanch’s Presale: Final Hours, Massive Demand

Kaanch presale is on the seventh and last stage, selling at the price of 0.64 USD per token, and over 3 million dollars were raised already, and there are only two days left. The future listings on BitMart, LBank, and xT at a fixed price of 30 dollars per token will be a potential 4,600% gain. This explosive growth potential is fueling unprecedented demand, where more than 10,000 new wallets are created every week and whales are making huge purchases. The limited number of 58 million tokens also makes it scarce, which adds to the interest of the investors. To the people who want the best crypto, the window of Kaanch is narrowing quickly.

Unmatched Technology: Speed, Scalability, and Security

The technical basis of Kaanch is unique as it provides 1.4 million transactions per second and 0.8-second finality to execute trades instantly and smart contracts flows. It is economical to use near-zero gas fees on dApps, micropayments, and payments, and 3,600 decentralized nodes ensure high security and decentralization. The platform is highly competent in real-life asset tokenization, which allows businesses and individuals to make safe, instant transactions. SpyWolf and VerifyLab audited Kaanch, which is the most important aspect of investor confidence, making it the best crypto to adopt in enterprise and developer adoption.

Staking Rewards and Investor Incentives

Investors will also have the chance to earn yield by staking their tokens during the presale to earn up to 30 APY, which is immediately available. The live staking dashboard, open governance, and smooth blockchain integration are the main features that make Kaanch very appealing to any individual, as well as institutional investors. The presale is ending in only two days, and the listing price is going to be $30, so the chance to buy the best crypto at the price of $0.64 is fast fading away.

Act Now: Secure Your Allocation Before the Surge

The presale of Kaanch has already shown the huge demand, as more than 3 million dollars are raised, and whales are entering the game. With the listing on BitMart, LBank, and xT coming, early entry is becoming a thing of the past. Investors who want to participate in this project should visit the Kaanch presale site and invest in the presale which is already moving fast before it closes. By missing Kaanch at 0.64, there is a possibility of repeating the pain of missing the initial rise of Ethereum, history does not often give a second opportunity to catch the next best crypto before it takes off.

For more information about Kaanch Network ) visit the links below:

Website:https://presale.kaanch.com/
Whitepaper:https://docs.kaanch.network/
Twitter/X: https://x.com/KaanchNetwork
Telegram:https://t.me/kaanchnetwork
Win 1M: https://presale.kaanch.com/win-1-million
How to buy : https://presale.kaanch.com/how-to-buy

Disclaimer: This content is provided by Kaanch. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.Globenewswire does not endorse any content on this page.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/82ee79b6-0e35-4c72-8c25-ed9f63c73eb5
https://www.globenewswire.com/NewsRoom/AttachmentNg/714cf4b0-3537-4016-bd96-7f6283bb7cd8
https://www.globenewswire.com/NewsRoom/AttachmentNg/2017f78d-58cb-4f52-9b30-28c01126808d

The MIL Network –

June 28, 2025
MIL-OSI: Kaanch Presale Surpasses $3 Million at $0.64—Recognized as the Best Crypto Opportunity of 2025

Source: GlobeNewswire (MIL-OSI)

DUBAI, United Arab Emirates, June 27, 2025 (GLOBE NEWSWIRE) — Kaanch has quickly come into the limelight and has attracted a lot of attention by investors and analysts who have now termed it as the best crypto to purchase. Kaanch has exceeded the presale amount of more than $3 million and is at stage 7 in its presale at a price of 0.64 per token with only 2 days left to the end of the presale. The number of whales entering is high, reminiscent of the early Ethereum days, with many now saying that Kaanch might become the Ethereum of 2025, and that it could rise up to 18,600%. This is propelled by the new listings on BitMart, LBank, and xT, which will be pegged at an outstanding 30 dollars per token.

Ethereum’s Early Days: A Missed Opportunity

The initial boom of Ethereum is already a legend, and those who invested in it at the very beginning experienced exponential growth. Kaanch is being compared to those early days today as investors who did not make it on Ethereum are rushing to Kaanch and not going to make the same mistake again. The presale has already garnered more than 3 million dollars, and this is evidence of how huge the demand is, and how well it qualifies as the best crypto in 2025. As the end of stage 7 approaches, and there are only two days left, the pressure to join is higher than ever.

Kaanch’s Presale: Final Hours, Massive Demand

Kaanch presale is on the seventh and last stage, selling at the price of 0.64 USD per token, and over 3 million dollars were raised already, and there are only two days left. The future listings on BitMart, LBank, and xT at a fixed price of 30 dollars per token will be a potential 4,600% gain. This explosive growth potential is fueling unprecedented demand, where more than 10,000 new wallets are created every week and whales are making huge purchases. The limited number of 58 million tokens also makes it scarce, which adds to the interest of the investors. To the people who want the best crypto, the window of Kaanch is narrowing quickly.

Unmatched Technology: Speed, Scalability, and Security

The technical basis of Kaanch is unique as it provides 1.4 million transactions per second and 0.8-second finality to execute trades instantly and smart contracts flows. It is economical to use near-zero gas fees on dApps, micropayments, and payments, and 3,600 decentralized nodes ensure high security and decentralization. The platform is highly competent in real-life asset tokenization, which allows businesses and individuals to make safe, instant transactions. SpyWolf and VerifyLab audited Kaanch, which is the most important aspect of investor confidence, making it the best crypto to adopt in enterprise and developer adoption.

Staking Rewards and Investor Incentives

Investors will also have the chance to earn yield by staking their tokens during the presale to earn up to 30 APY, which is immediately available. The live staking dashboard, open governance, and smooth blockchain integration are the main features that make Kaanch very appealing to any individual, as well as institutional investors. The presale is ending in only two days, and the listing price is going to be $30, so the chance to buy the best crypto at the price of $0.64 is fast fading away.

Act Now: Secure Your Allocation Before the Surge

The presale of Kaanch has already shown the huge demand, as more than 3 million dollars are raised, and whales are entering the game. With the listing on BitMart, LBank, and xT coming, early entry is becoming a thing of the past. Investors who want to participate in this project should visit the Kaanch presale site and invest in the presale which is already moving fast before it closes. By missing Kaanch at 0.64, there is a possibility of repeating the pain of missing the initial rise of Ethereum, history does not often give a second opportunity to catch the next best crypto before it takes off.

For more information about Kaanch Network ) visit the links below:

Website:https://presale.kaanch.com/
Whitepaper:https://docs.kaanch.network/
Twitter/X: https://x.com/KaanchNetwork
Telegram:https://t.me/kaanchnetwork
Win 1M: https://presale.kaanch.com/win-1-million
How to buy : https://presale.kaanch.com/how-to-buy

Disclaimer: This content is provided by Kaanch. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.Globenewswire does not endorse any content on this page.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/82ee79b6-0e35-4c72-8c25-ed9f63c73eb5
https://www.globenewswire.com/NewsRoom/AttachmentNg/714cf4b0-3537-4016-bd96-7f6283bb7cd8
https://www.globenewswire.com/NewsRoom/AttachmentNg/2017f78d-58cb-4f52-9b30-28c01126808d

The MIL Network –

June 28, 2025
MIL-OSI: Kaanch Presale Surpasses $3 Million at $0.64—Recognized as the Best Crypto Opportunity of 2025

Source: GlobeNewswire (MIL-OSI)

DUBAI, United Arab Emirates, June 27, 2025 (GLOBE NEWSWIRE) — Kaanch has quickly come into the limelight and has attracted a lot of attention by investors and analysts who have now termed it as the best crypto to purchase. Kaanch has exceeded the presale amount of more than $3 million and is at stage 7 in its presale at a price of 0.64 per token with only 2 days left to the end of the presale. The number of whales entering is high, reminiscent of the early Ethereum days, with many now saying that Kaanch might become the Ethereum of 2025, and that it could rise up to 18,600%. This is propelled by the new listings on BitMart, LBank, and xT, which will be pegged at an outstanding 30 dollars per token.

Ethereum’s Early Days: A Missed Opportunity

The initial boom of Ethereum is already a legend, and those who invested in it at the very beginning experienced exponential growth. Kaanch is being compared to those early days today as investors who did not make it on Ethereum are rushing to Kaanch and not going to make the same mistake again. The presale has already garnered more than 3 million dollars, and this is evidence of how huge the demand is, and how well it qualifies as the best crypto in 2025. As the end of stage 7 approaches, and there are only two days left, the pressure to join is higher than ever.

Kaanch’s Presale: Final Hours, Massive Demand

Kaanch presale is on the seventh and last stage, selling at the price of 0.64 USD per token, and over 3 million dollars were raised already, and there are only two days left. The future listings on BitMart, LBank, and xT at a fixed price of 30 dollars per token will be a potential 4,600% gain. This explosive growth potential is fueling unprecedented demand, where more than 10,000 new wallets are created every week and whales are making huge purchases. The limited number of 58 million tokens also makes it scarce, which adds to the interest of the investors. To the people who want the best crypto, the window of Kaanch is narrowing quickly.

Unmatched Technology: Speed, Scalability, and Security

The technical basis of Kaanch is unique as it provides 1.4 million transactions per second and 0.8-second finality to execute trades instantly and smart contracts flows. It is economical to use near-zero gas fees on dApps, micropayments, and payments, and 3,600 decentralized nodes ensure high security and decentralization. The platform is highly competent in real-life asset tokenization, which allows businesses and individuals to make safe, instant transactions. SpyWolf and VerifyLab audited Kaanch, which is the most important aspect of investor confidence, making it the best crypto to adopt in enterprise and developer adoption.

Staking Rewards and Investor Incentives

Investors will also have the chance to earn yield by staking their tokens during the presale to earn up to 30 APY, which is immediately available. The live staking dashboard, open governance, and smooth blockchain integration are the main features that make Kaanch very appealing to any individual, as well as institutional investors. The presale is ending in only two days, and the listing price is going to be $30, so the chance to buy the best crypto at the price of $0.64 is fast fading away.

Act Now: Secure Your Allocation Before the Surge

The presale of Kaanch has already shown the huge demand, as more than 3 million dollars are raised, and whales are entering the game. With the listing on BitMart, LBank, and xT coming, early entry is becoming a thing of the past. Investors who want to participate in this project should visit the Kaanch presale site and invest in the presale which is already moving fast before it closes. By missing Kaanch at 0.64, there is a possibility of repeating the pain of missing the initial rise of Ethereum, history does not often give a second opportunity to catch the next best crypto before it takes off.

For more information about Kaanch Network ) visit the links below:

Website:https://presale.kaanch.com/
Whitepaper:https://docs.kaanch.network/
Twitter/X: https://x.com/KaanchNetwork
Telegram:https://t.me/kaanchnetwork
Win 1M: https://presale.kaanch.com/win-1-million
How to buy : https://presale.kaanch.com/how-to-buy

Disclaimer: This content is provided by Kaanch. The statements, views, and opinions expressed in this content are solely those of the content provider and do not necessarily reflect the views of this media platform or its publisher. We do not endorse, verify, or guarantee the accuracy, completeness, or reliability of any information presented. We do not guarantee any claims, statements, or promises made in this article. This content is for informational purposes only and should not be considered financial, investment, or trading advice.Investing in crypto and mining-related opportunities involves significant risks, including the potential loss of capital. It is possible to lose all your capital. These products may not be suitable for everyone, and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. Readers are strongly encouraged to conduct their own research and consult with a qualified financial advisor before making any investment decisions. However, due to the inherently speculative nature of the blockchain sector—including cryptocurrency, NFTs, and mining—complete accuracy cannot always be guaranteed.Neither the media platform nor the publisher shall be held responsible for any fraudulent activities, misrepresentations, or financial losses arising from the content of this press release. In the event of any legal claims or charges against this article, we accept no liability or responsibility.Globenewswire does not endorse any content on this page.

Legal Disclaimer: This media platform provides the content of this article on an “as-is” basis, without any warranties or representations of any kind, express or implied. We assume no responsibility for any inaccuracies, errors, or omissions. We do not assume any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information presented herein. Any concerns, complaints, or copyright issues related to this article should be directed to the content provider mentioned above.

Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/82ee79b6-0e35-4c72-8c25-ed9f63c73eb5
https://www.globenewswire.com/NewsRoom/AttachmentNg/714cf4b0-3537-4016-bd96-7f6283bb7cd8
https://www.globenewswire.com/NewsRoom/AttachmentNg/2017f78d-58cb-4f52-9b30-28c01126808d

The MIL Network –

June 28, 2025
Nirmala Sitharaman reviews public sector banks’ performance, urges focus on financial inclusion and innovation

Source: Government of India

Source: Government of India (4)

Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman on Friday chaired a high-level annual review meeting with the Managing Directors and CEOs of Public Sector Banks (PSBs) in New Delhi. Meeting focused on financial strength, inclusive lending, cyber security, and customer-centric innovation. The meeting was attended by Union Minister of State for Finance Pankaj Chaudhary, Secretary of the Department of Financial Services, M. Nagaraju, and senior officials, alongside PSB leadership.

Sitharaman commended the PSBs for their robust financial performance, particularly in FY 2024–25, where they recorded a record net profit of ₹1.78 lakh crore. Over the period from FY 2022–23 to FY 2024–25, the total business of PSBs grew from ₹203 lakh crore to ₹251 lakh crore, while net Non-Performing Assets (NNPAs) dropped to a multi-year low of 0.52%, reflecting improved asset quality and risk management. Dividend payouts also rose significantly, from ₹20,964 crore to ₹34,990 crore, with the Capital to Risk-Weighted Assets Ratio (CRAR) standing strong at 16.15% as of March 2025.

The Finance Minister emphasized the need for sustained deposit mobilization to support ongoing credit growth, urging PSBs to leverage their branch networks and deepen outreach in semi-urban and rural areas through special drives. She also directed banks to identify emerging commercial growth sectors for the next decade to boost profitability and to deepen corporate lending in productive sectors while maintaining stringent underwriting and risk management standards. Lending to the energy sector, particularly in renewable and sustainable areas, was highlighted as a national priority, with banks advised to develop credit models to support indigenously designed small modular nuclear reactors (SMRs) as announced in the Union Budget 2025-26.

Financial inclusion remained a key focus, with Sitharaman directing PSBs to actively participate in a three-month saturation campaign starting July 1, covering 2.7 lakh Gram Panchayats and Urban Local Bodies. The campaign will prioritize KYC compliance, re-KYC, and unclaimed deposits, alongside promoting schemes like PM Jan Dhan Yojana, PM Jeevan Jyoti Bima, and PM Suraksha Bima Yojana. Banks were also instructed to scale up efforts under schemes such as PM MUDRA Yojana, PM Vishwakarma, PM Surya Ghar Muft Bijli Yojana, PM Vidyalaxmi, and the Kisan Credit Card (KCC) scheme, with a special focus on agricultural credit in 100 low-productivity districts under the PM Dhan Dhanya Yojana to enhance local economic potential.

The review highlighted progress under the New Credit Assessment Model for MSMEs, launched on March 6, 2025, with 1.97 lakh loans sanctioned worth ₹60,000 crore. Smt. Sitharaman urged banks to strengthen this model to improve capital access for small and medium businesses. Additionally, under the Stand Up India scheme, 2.28 lakh loans worth ₹51,192 crore have been sanctioned, and under the PM Vidya Lakshmi scheme, 6,682 applications worth ₹1,751 crore have been approved. The Finance Minister called for greater focus on these schemes to support entrepreneurship and higher education.

To enhance customer experience, banks were directed to ensure faster grievance redressal, offer simplified digital platforms, and provide multilingual services both online and offline. Maintaining clean, customer-friendly branches and expanding in metro and urban centers to keep pace with urbanization were also emphasized. Sitharaman stressed the importance of filling all existing and upcoming vacancies promptly to improve service delivery and encouraged banks to expand their presence in underserved areas like the Northeast and strengthen the Business Correspondent network for last-mile banking access. Additionally, banks were advised to expand operations in GIFT City to tap into global financial opportunities and increase participation in the India International Bullion Exchange (IIBX).

June 28, 2025
MIL-OSI: CIRI Announces the 2025 Recipient for the Award for Excellence in Investor Relations

Source: GlobeNewswire (MIL-OSI)

TORONTO, June 27, 2025 (GLOBE NEWSWIRE) — The Canadian Investor Relations Institute (CIRI), Canada’s national association representing investor relations professionals, is pleased to announce that Jennifer McCaughey, F.CIRI, has been chosen as the 37^th recipient of the Award for Excellence in Investor Relations. Jennifer was honoured at CIRI’s 38^th Annual Investor Relations Conference in Niagara-on-the-Lake, Ontario.

The Award for Excellence in Investor Relations is presented by CIRI to honour individuals who have made an exceptional contribution to the investor relations profession and the Institute.

Award for Excellence in Investor Relations

Jennifer McCaughey, F.CIRI, has had a distinguished career in Investor Relations, spanning over 25 years with several key small-cap, mid-cap and large-cap issuers. Most notably, she served as the leading IRO at Transcontinental for 15 years. During this time, Ms. McCaughey joined the CIRI Quebec Chapter Executive as a member (2010-2016) and assumed the Chapter Chair position from 2012-2014, where her leadership significantly expanded the Chapter’s reach beyond the IR community. Ms. McCaughey’s efforts to broaden CIRI’s scope aligned with the overarching goal of enhancing the IRO’s importance within senior management and the C-suite.

Throughout her leadership, Ms. McCaughey instilled a vision to grow and expand the influence of the IR function, effectively channelling her efforts through CIRI to achieve this goal.

“Jennifer is a highly regarded investor relations professional in Canada and a significant contributor to CIRI. She is recognized for her outstanding leadership, commitment to best practices, and steadfast support for CIRI and the broader IR community,” said Nathalie Megann, CPIR, President & CEO, CIRI. “Whether through her role at Calian Group or her ongoing efforts to advance the profession as a mentor, advocate, and thought leader, she continually strives to open doors and expand the exposure of the value of the investor relations profession through active involvement and leadership in the Canadian investor relations community.”

Ms. McCaughey received the designation of F.CIRI, the CIRI Fellowship in 2021, which recognizes IR leaders who bring distinction to the profession and serve as role models for others. She also received the Belle Mulligan Award for Leadership in Investor Relations in 2014, which recognizes individuals who have shown singular leadership in one or more aspects of the practice of IR. As a longstanding member of CIRI, she has generously shared her expertise and experience through speaking engagements, leadership roles and mentorship.

Ms. McCaughey is the Director of Investor Relations at Calian Group, bringing nearly 30 years of experience in capital markets and investor relations. She holds a Bachelor of Commerce in Finance from McGill University and is a CFA Charterholder.

“I’m incredibly honoured to receive the Award for Excellence in Investor Relations from CIRI. This recognition reflects not just a milestone in my career, but a journey spanning nearly 30 years in the capital markets, the majority of which has been dedicated to investor relations. IR has been more than a profession—it’s been a passion. I’ve always believed in the strategic value of investor relations and the critical role it plays in building trust, enhancing corporate reputation, and driving long-term value for companies. To have now received all three of CIRI’s awards is truly humbling, and I share this honour with the many colleagues and mentors who have inspired me along the way. I hope this recognition encourages others in our field to continue raising the bar for excellence in IR. CIRI plays a vital role in supporting that mission, and I’m proud to be part of such a dedicated community.”

“I extend sincere congratulations to Jennifer as well as heartfelt thanks for her valued contributions to CIRI and the IR profession,” said Nathalie Megann.

About CIRI
CIRI is a professional, not-for-profit association of executives responsible for communication between public corporations, investors and the financial community. CIRI contributes to the transparency and integrity of the Canadian capital markets by advancing the practice of investor relations, the professional competency of its members and the stature of the profession. With over 300 members and four Chapters across the country, CIRI is the voice of IR in Canada. For further information, please visit CIRI.org.

For further information, please contact:
Nathalie Megann, CPIR, ICD.D
President & CEO
Canadian Investor Relations Institute
(416) 364-8200 ext. 101
nmegann@ciri.org

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b4e523d7-cdcf-409e-9af6-66917d968a83

The MIL Network –

June 28, 2025

MIL-OSI: CIRI Names Four Distinguished Investor Relations Professionals as Fellows

Source: GlobeNewswire (MIL-OSI)

TORONTO, June 27, 2025 (GLOBE NEWSWIRE) — The Canadian Investor Relations Institute (CIRI), Canada’s national association representing investor relations professionals, announced the 2025 CIRI Fellows.

2025 CIRI Fellows


Carol Hansell Senior Partner, Hansell LLP & Principal, Hansell McLaughlin Advisory	Edward Miller Director, Investor Relations Q4 Inc.	Ashley Nuell, CPIR Vice President, Investor Relations Westport Fuel Systems Inc.	Anne Plasterer, CPIR Investor Relations & Communications Consultant Clear Path Strategies

The CIRI Fellowship Program was established in 2015 to recognize leaders in the investor relations profession who, by their achievements, bring distinction to the profession and serve as role models for others. CIRI Fellows have made significant contributions to the advancement of the investor relations profession and to CIRI throughout their careers. Earning the designation of F.CIRI, the CIRI Fellow is the highest honour for investor relations professionals in Canada.

“CIRI is pleased to recognize Carol, Edward, Ashley and Anne with this distinct honour. Their dedication and commitment to the investor relations profession have left an indelible mark and set a high bar for all in the profession. They join an elite group of individuals that have earned CIRI’s highest level of recognition,” said Nathalie Megann, CPIR, President & CEO of CIRI. “We enjoyed celebrating their careers and contributions at CIRI’s 2025 Annual Conference in Niagara-on-the-Lake.”

This year’s CIRI Fellows were honoured during the Awards Ceremony on Thursday, June 19, as part of CIRI’s 38^th Annual Investor Relations Conference.

About CIRI
CIRI is a professional, not-for-profit association of executives responsible for communication between public corporations, investors and the financial community. CIRI contributes to the transparency and integrity of the Canadian capital markets by advancing the practice of investor relations, the professional competency of its members and the stature of the profession. With over 300 members and four Chapters across the country, CIRI is the voice of IR in Canada. For further information, please visit CIRI.org.

For further information, please contact:
Nathalie Megann, CPIR, ICD.D
President & CEO
Canadian Investor Relations Institute
(416) 364-8200 ext. 101
nmegann@ciri.org

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/3a3e6385-fcd9-4a73-8fde-5e13f81b1985

https://www.globenewswire.com/NewsRoom/AttachmentNg/292552f9-c9a0-492f-904b-0abc39a9ae50

https://www.globenewswire.com/NewsRoom/AttachmentNg/7ec2e84f-7a91-4ab5-8da1-c9142d87344b

https://www.globenewswire.com/NewsRoom/AttachmentNg/c611c16f-eb4c-4866-bff7-377cdb54b902

The MIL Network –

June 28, 2025

MIL-OSI USA: Warren, Collins, 44 Senators Team Up on Bill to Fight for Tax Equality for Married LGBTQ+ Couples

US Senate News:

Source: United States Senator for Massachusetts – Elizabeth Warren
June 27, 2025
Legislation would retroactively give refunds to same-sex married couples who were denied opportunity to lower tax bill by filing jointly
Bill Text (PDF) | One Pager (PDF)
Washington, D.C. – On the ten-year anniversary of Obergefell v. Hodges, which recognized a constitutional right to same-sex marriage, and the twelve-year anniversary of U.S. v. Windsor, which struck down as unconstitutional the federal definition of marriage as between one man and one woman, U.S. Senators Elizabeth Warren (D-Mass.) and Susan Collins (R-Maine) led the reintroduction of the bipartisan Refund Equality Act to ensure that married same-sex couples can amend their tax returns back to the date of their marriage, helping them secure an estimated total of $55 million in refunds.
The legislation will be reintroduced in the House by Rep. Judy Chu (D-Calif.) as part of the PRIDE Act, which combines the Refund Equality Act and Equal Dignity for Married Taxpayers Act. Senator Warren originally introduced this legislation with Representative Richard Neal (D-Mass.), along with 71 of their congressional colleagues, in 2017.
“No one should ever have to pay more in taxes because of who they love,” said Senator Warren. “I’m fighting to reverse this discrimination and get couples the refunds they are owed.”
“For years, legally married same-sex couples were not allowed to file joint tax returns and missed out on refunds they otherwise would have received,” said Senator Collins. “This bipartisan bill takes the practical step of giving those couples the opportunity to file amended returns and receive the full refunds they are entitled to.”
“For years, same-sex married couples were denied the ability to file taxes jointly and claim tax refunds they had rightfully earned because of the Defense of Marriage Act. Twelve years ago, the Supreme Court’s Windsor decision corrected this injustice, but IRS rules about amending tax returns have prevented these couples from claiming all of the refunds they should have earned,” said Rep. Chu. “The PRIDE Act would finally address this by enabling same-sex couples to rightfully claim the tax refunds they deserve as well as update the tax code to promote dignity and equality by erasing gendered language of husband and wife that leaves out same-sex couples. This Pride Month, I am proud to join with my House and Senate colleagues in introducing this pro-equality legislation.”
“My marriage with my wife Elizabeth would not be recognized across the country if not for Obergefell. This Supreme Court decision is fundamental to achieving equality and laid the foundation to address all the ways same-sex couples have been systematically discriminated against,” said Rep. Becca Balint (D-Vt.). “Change needs to be more than symbolic. I’m proud to co-lead this legislation to fight for tax equality for married LGBTQI+ couples and help to right the wrongs of the past.”
“The fight for equality is always ongoing. This legislation embodies that fight by ensuring LGBTQ+ couples finally get the tax refunds they are owed. This is legislation long overdue – let’s get it done,” said Senator Alsobrooks.
“For years, legally-married same-sex couples were denied the ability to file taxes jointly and missed out on the full refunds they earned, all because of who they love. This critical legislation corrects that injustice and provides same-sex couples with the opportunity to amend their tax returns and file jointly retroactively, ensuring same-sex couples can access the benefits that are rightfully theirs,” said Senator Blumenthal.
“It is absolutely unacceptable that same-sex couples are still being denied nearly a decade of tax refunds that they are rightfully owed,” said Senator Duckworth. “The bipartisan Refund Equality Act would right this wrong and reform our tax code to ensure same-sex couples receive the same protections and benefits for their marriage as everyone else.”
“Our pursuit of equal justice for all requires us to admit to past wrongs. For years, LGBTQ+ couples were denied tax benefits offered to other married couples simply because of who they love. This bill would allow those couples to amend their tax returns to secure the benefits that they are owed, and passing this legislation will help us get a step closer to achieving equality,” said Senate Democratic Whip Dick Durbin (D-IL), Ranking Member of the Senate Judiciary Committee.
“In 2013, I was the first and only elected official in Western PA willing to officiate a gay marriage when it was still illegal. It was one of the greatest honors of my career because every couple deserves dignity and respect,” said Senator Fetterman. “The Refund Equality Act applies to our tax code that same principle of not punishing anyone for who they are or who they love. It’s long past time for Congress to make this right and ensure same-sex couples get the tax refunds they’re owed.”
“Every married couple deserves to be treated equally under the law. But for years, same-sex married couples across the country were denied their joint tax returns,” said Senator Gallego. “I’m proud to back this bill to give those couples the refunds they’re entitled to.”
“Who you love shouldn’t determine how you’re taxed,” said Senator Hickenlooper. “Legally married same-sex couples deserve the tax refunds they were denied because of outdated laws.”
“For too long, same-sex couples were unable to file taxes jointly, resulting in them losing out on tax refunds, simply because of who they love,” said Senator Hirono. “By enabling these couples to amend their tax returns, this long-overdue legislation would address this injustice, helping to promote equity in the tax filing system by allowing couples to receive the benefits that are rightfully theirs.”
“In many states, same-sex couples were married for years before the 2013 Windsor decision, yet they were denied the legal right to file their federal taxes jointly. With this legislation, we’re fighting to right the wrongs these couples faced and ensure they are able to receive the refunds they have been unfairly denied,” said Senator Van Hollen.
“It is time we right this egregious wrong and return money long owed to married LGBTQ+ couples,” said Senator Andy Kim. “Let’s get rid of this discriminatory red tape and stand up for the fairness and equality under the law every American deserves.”
“For years, same-sex married couples were forced to file their taxes as individuals, which meant missing out on the benefits other married couples received,” said Senator Luján. “This legislation is an important step toward making things right by ensuring same-sex married couples get the tax refunds they are owed.”
“On the anniversary of the landmark Obergefell v. Hodges decision, we must ensure same-sex couples receive the equal rights protections guaranteed to them by law,” said Senator Markey. The Refund Equality Act would correct a historic wrong and allow same-sex couples to claim tax refunds that discriminatory tax policies denied them previously. This bill is a step in the right direction to fully realize equality for same-sex couples across the country.”
“Same-sex couples deserve to be treated as persons equal in dignity, equal in opportunity, and equal under the law,” said Senator Jeff Merkley, author of the Equality Act. “However, legally married same-sex couples were unfairly forced to file taxes as individuals for many years, oftentimes paying more in taxes than other legally married couples. Our bipartisan bill is a step forward for equality by ensuring that married same-sex couples can amend their tax returns and get the refunds they are owed.”
“Every married couple deserves equal treatment under the law,” said Senator Padilla. “The discrimination of same-sex married couples in our tax code and denial of certain benefits — simply because of who they love — was deeply wrong and un-American. The Refund Equality Act would finally make these couples whole by providing tax refunds on hard-earned income that never should have been taken from them in the first place.”
“For years, same-sex couples were discriminated against and unfairly denied the ability to file their taxes jointly or access the tax benefits afforded to other married couples,” said Senator Rosen. “I’m proud to cosponsor this legislation to help right that wrong and ensure that all married couples are treated equally under the law.”
“Everyone deserves to be treated equally under the law, regardless of who they love,” said Senator Smith. “For years, our tax system unfairly discriminated against same-sex couples by making them file separately on their taxes, despite being legally married. The Refund Equality Act would help take an enormous step toward righting these wrongs and allow same-sex couples to access the tax benefits they should have always received.”
“The right to marry whoever you love may be recognized as the law of the land, but the work toward true equality is far from over,” Senator Wyden said. “The opponents of marriage equality are working to roll back the clock on the progress we’ve made in recent years and decades. That’s all the more reason to root out the remnants of discrimination from the laws on the books, including in our tax code.”
Specifically, the Refund Equality Act would:
Allow same-sex couples who were married in jurisdictions that recognized same-sex marriage prior to 2013 – including Massachusetts, Connecticut, California, Iowa, New Hampshire, Vermont, and Washington, D.C – to file for income tax adjustments for those years, back to the date of their marriage;
Creates exceptions for two tax code limitations: Section 6013(b), which gives married couples three years to begin filing jointly after their most recent separate returns, and Section 6511(a), which requires a claim for tax credits or refunds to be filed within three years of the initial return; and
Creates exemptions including adjustments to capital loss carryback and adjustments for retired service members who receive an award of disability compensations.
According to a 2021 estimate by the Joint Committee on Taxation, this bill would return $55 million in refunds to taxpayers whose marriages were systematically discriminated against.
The legislation is also co-sponsored by Minority Leader Chuck Schumer (D-N.Y.), Ranking Member of the Senate Finance Committee Ron Wyden (D-Or.), and Senators Angela Alsobrooks (D-Md.), Tammy Baldwin (D-Wis.), Michael Bennet (D-Colo.), Richard Blumenthal (D-Conn.), Lisa Blunt Rochester (D-Del.), Cory Booker (D-N.J.), Maria Cantwell (D-Wash.), Chris Coons (D-Del.), Catherine Cortez Masto (D-Nev.), Tammy Duckworth (D-Ill.), Dick Durbin (D-Ill.), John Fetterman (D-Pa.), Ruben Gallego (D-Ariz.), Kirsten Gillibrand (D-N.Y.), Martin Heinrich (D-N.M.), John Hickenlooper (D-Colo.), Mazie Hirono (D-Haw.), Tim Kaine (D-Va.), Mark Kelly (D-Ariz.), Andy Kim (D-N.J.), Angus King (I-Me.), Amy Klobuchar (D-Minn.), Ben Ray Luján (D-N.M.), Ed Markey (D-Mass.), Jeff Merkley (D-Or.), Chris Murphy (D-Conn.), Patty Murray (D-Wash.), Alex Padilla (D-Cal.), Gary Peters (D-Mich.), Jack Reed (D-R.I.), Jacky Rosen (D-Nev.), Bernie Sanders (I-Vt.), Brian Schatz (D-Haw.), Adam Schiff (D-Cal.), Jeanne Shaheen (D-N.H.), Elissa Slotkin (D-Mich.), Tina Smith (D-Minn.), Chris Van Hollen (D-Md.), Mark Warner (D-Va.), Raphael Warnock (D-Ga.), Peter Welch (D-Vt.), and Sheldon Whitehouse (D-R.I.).
This legislation is being reintroduced alongside Senator Wyden’s Equal Dignity for Married Taxpayers Act, which Senator Warren co-sponsors and would protect LGBTQ+ Americans from inequality and discrimination by removing gender-specific references to marriage in the tax code.
The legislation is also endorsed by the Human Rights Campaign (HRC), Services & Advocacy for GLBT Elders (SAGE), Children of Lesbians and Gays Everywhere (COLAGE), the Movement Advancement Project, and MassEquality.

MIL OSI USA News –

June 28, 2025
MIL-OSI USA: Kelly to hold telephone town hall to help Pennsylvanians fight fraud, stop scams

Source: United States House of Representatives – Representative Mike Kelly (R-PA)

WASHINGTON, D.C. — On Tuesday, July 8, U.S. Rep. Mike Kelly (R-PA) will hold a telephone town hall to help Pennsylvanians fight fraud, stop scams, and offer ways to protect your personal information. Officials from the Federal Trade Commission (FTC) and Federal Bureau of Investigation (FBI) will join the call to offer insight and answer questions.

In April, the FBI released its annual Internet Crime Report, which revealed scammers stole more than $16 billion from Americans in 2024, a 33% increase in losses from 2023.

“My office often received numerous calls from constituents who remain incredibly concerned about, or have even fallen victim to, scams and fraud,” said Rep. Kelly. “Our goal with this live telephone town hall is to give Pennsylvanians the tools necessary to fight back and to protect their personal information at a time when scams and fraud are on the rise. We hope you can join us!”

DETAILS

Who: Rep. Mike Kelly & Experts from the Federal Trade Commission (FTC) and FBI.
What: Live Telephone Town Hall — “Fight Fraud, Stop Scams, & How to Protect Your Personal Information”
When: Tuesday, July 8, 2025 at 6:30p.m. ET
Pinless Participant Dial-In: 855-531-1063
Livestream:Facebook.com/MikeKellyPA

BACKGROUND

According to the FBI’s Internet Crime Report, the top three cybercrimes, by number of complaints reported by victims in 2024, were phishing/spoofing, extortion, and personal data breaches. Victims of investment fraud, specifically those involving cryptocurrency, reported the most losses—totaling over $6.5 billion.

In April, Pennsylvania State Police investigated cybertheft after a Crawford County couple was reportedly scammed out of more than $2,000.

Just this week, state officials warned Pennsylvanians to watch for an ongoing fake inheritance scam.

MIL OSI USA News –

June 28, 2025
MIL-OSI USA: Remarks by Acting Chairman Caroline D. Pham, 100 Impact Leaders Dinner and Annual Awards, Digital Assets Global Forum, UK House of Lords

Source: US Commodity Futures Trading Commission

Good evening, my lords, ladies and gentlemen. I would like to express my gratitude to Lord Taylor of Warwick and Dr. Lisa Cameron, as well as the Financial Club and the UK US Crypto Alliance, for this recognition at the Digital Assets Global Forum 100 Impact Leaders Dinner and Annual Awards and inviting me to provide remarks. Thank you also to Baroness Uddin and Lord Ranger, and especially to all the event staff at the House of Lords.
It is a great honor to receive this year’s Legacy Award, and a great privilege to share my views regarding innovation and market structure in financial services. Tonight’s event is a testament to the strength and longevity of the close relationships among UK and U.S. institutions, and the special relationship between our two great Nations.
Crypto and Digital Assets
In April, Treasury Secretary Bessent and Chancellor Reeves discussed digital asset regulation and laid the groundwork for our governments to explore ways “to support the use and responsible growth of digital assets.”
In the context of that discussion, I was pleased to learn that Chancellor Reeves acknowledged the importance of the UK-U.S. Financial Regulatory Working Group (FRWG), which I will discuss in a few minutes. Both the U.S. Commodity Futures Trading Commission (CFTC) and the UK Financial Conduct Authority (FCA) are members, and our agencies have partnered closely for decades.
The UK Government has moved quickly on cryptoasset regulatory proposals, including the FCA’s public consultation on various papers and publication of an FCA Crypto Roadmap.
So, I would like to highlight for you the CFTC’s swift progress on President Trump’s executive orders and policy agenda for digital assets.
For both our Nations, this is the light at the end of a very long tunnel, the dawn of a new golden age for market innovation, and the culmination of years of hard work by both the public and private sectors.
Responsible innovation and fair competition
While UK regulators have recently gained a secondary mandate on competition, the CFTC has long had a dual mandate to promote responsible innovation and fair competition in our markets.
Our dual mandate enshrines the simple truth that derivatives are financial instruments that are at the cutting edge of market innovation, and therefore our regulatory framework must be principles-based and flexible to adapt to new markets and new products.
Let me tell you about my personal journey towards ensuring that the CFTC remains not only the first, but also at the forefront, of leadership on digital asset markets.
The U.S. regulation of spot digital assets is a high priority for the CFTC because the largest digital asset markets are commodities.
It is also a high priority for me because I have worked on crypto and digital assets initiatives for over 10 years—since 2013, when I was staff at the CFTC and the Bitcoin Foundation came to Washington, DC to engage with regulators on responsible innovation.
That’s right—the crypto industry did not run away from regulation, they ran towards it, even in those early years, in hopes of finding a clear regulatory roadmap.
At that time, we at the CFTC thought that Bitcoin was a commodity. Two years later, in 2015, the CFTC made this view known publicly, and has maintained this view ever since as this novel asset class has expanded to include more tokens.
After my initial experience with crypto at the CFTC, I engaged on crypto again in the private sector.
I worked on Citi’s digital asset strategy, including product development and strategic equity and venture capital investments, and I worked on transactions, partnerships, vendors, and new clients.
I led digital assets global regulatory strategy and policy advocacy and initiatives to implement governance, risk, and control frameworks and compliance policies and procedures. That included leading global engagement in supervisory examinations of distributed ledger technology (DLT or blockchain) and digital assets by both U.S. and non-U.S. regulators—including the FCA.
Based on my hands-on experience, when I became a CFTC Commissioner, I knew providing regulatory clarity for digital assets had to be a priority.
I first proposed 10 fundamentals for responsible digital asset markets, which could be universally applied in any jurisdiction, in 2022. Then, I proposed a CFTC digital asset markets pilot program as a U.S. regulatory sandbox in 2023. I was gratified to be named to CoinDesk’s Most Influential 2023 list for these efforts.
Last year, in 2024, the Digital Asset Markets Subcommittee of the CFTC’s Global Markets Advisory Committee (GMAC), which I sponsor, developed and made two recommendations to the Commission: (1) a U.S. digital asset taxonomy and (2) regulatory treatment of tokenized non-cash collateral.
I want to thank the firms—many in this audience—from the largest banks and asset managers, to exchanges and clearinghouses, to crypto native startups, who have contributed to the GMAC’s efforts and graciously provided their time and resources to create a consensus view across both traditional and digital asset markets.
These recommendations for industry standards reflect years of thoughtful, disciplined work from the actual builders in this space who are the industry leaders.
It’s a common global solution that works for everyone, and also includes input from both international standard setters and non-U.S. regulatory authorities.
A golden age for market innovation
This year, in the Trump Administration’s first 100 days, the CFTC has taken decisive action to implement these prior proposals and promote a pro-innovation, pro-growth approach for digital assets.
The CFTC is a member of the President’s Working Group on Digital Asset Markets, which is expected to release a report next month that will be the Administration’s crypto roadmap. We have been working closely with the U.S. Treasury Department, the SEC, and other agencies on this productive and fruitful effort.
In February, I hosted a first-ever Crypto CEO Forum and participated in the groundbreaking White House Digital Assets Summit.
The CFTC has withdrawn outdated staff advisories and released new guidance to improve regulatory clarity for American and other innovators and entrepreneurs in crypto and digital assets.
We have had discussions on a digital asset markets pilot program and will soon participate as an observer in industry tokenization initiatives.
And, the CFTC recently completed a public comment period on 24/7 trading and perpetual derivatives, two crypto market innovations that may have implications for other asset classes with sufficient liquidity. Perpetual derivatives have been trading live on CFTC-registered designated contract markets (DCMs) since April, and 24/7 trading has been live since May.
The CFTC has provided technical assistance to Congress on various digital asset legislative proposals, including the CLARITY Act, and stands ready to carry out our mission if our jurisdiction is expanded. The future is bright.
Looking ahead, the U.S. must have a durable and flexible approach to regulation that will keep up with continuing innovation and stand the test of time.
Lessons learned
I appreciate Lord Taylor’s remarks about learning from the past. I will share some lessons learned from my experience at the CFTC and in the private sector with implementing the Dodd-Frank Act, the last time the U.S. enacted legislation that dramatically reshaped market structure.
The CFTC’s implementation of Dodd-Frank with our swaps regulations had far-reaching unintended consequences. Fifteen years later, the CFTC is still working to eliminate unworkable, overly burdensome requirements and resolve regulatory overreach that have significantly increased costs for all market participants with no meaningful benefits.
There are two key lessons learned, and we must not repeat the mistakes of the past.
Regulatory moat
First, Dodd-Frank’s duplicative, costly, and unnecessary regulatory requirements that cost billions of dollars annually for registration, compliance, and reporting—in addition to enforcement penalties that have become a tax on doing business—have resulted in a regulatory moat that is a barrier to entry for smaller firms, startups, and entrepreneurs.
This has led to anti-competitive effects and consolidation and concentration of market participants, because only the biggest firms can afford the overhead.
Any mandate or issuance of new regulations by the CFTC should leverage our existing registration categories and compliance requirements to avoid piling on with another layer of overregulation that has no benefit to market integrity or customer protection.
Market fragmentation
Second, Dodd-Frank’s jurisdictional overreach and the CFTC’s initial approach to cross-border activity resulted in swaps market fragmentation. These effects were especially profound in London and New York, the most important trading hubs.
A lack of harmonization based on principles of international comity, mutual recognition, and regulatory coherence led to fractured market liquidity that is less resilient to market shock or dislocation, increasing both market volatility and systemic risk.
Market fragmentation also resulted in increased complexity and costs for international financial institutions and other market participants’ legal entity strategy, booking models, and other operational processes. Increasing complexity increases both financial and non-financial risks.
Again, fifteen years later, the CFTC still has not completed implementing a substituted compliance regime across all CFTC swaps regulation.
Most of the CFTC’s over 20 staff letters, advisories, or other guidance issued since January under my leadership as acting Chairman have been to fix remaining Dodd-Frank issues based on my experience as an operating executive.
Because crypto and digital asset markets are borderless by design, it is imperative that the CFTC’s policy approach ensures that substituted compliance will be available from the start for entities that are properly registered in their home country jurisdictions that have comparable regulatory schemes, and that reciprocal mutual recognition for CFTC-registered entities is available as well.
The close partnership between UK and U.S. authorities can help to achieve this regulatory coherence. By leveraging existing registration categories and cross-border substituted compliance or mutual recognition, the CFTC and our non-U.S. regulatory counterparts would not have to reinvent the wheel and further delay growth and progress for digital asset markets.
Our current CFTC regulated entities could begin trading crypto on day one, and bring previously offshore activity back onshore to the U.S. with no negative impact to depth of market liquidity.
Simplicity is the solution
I have encouraged technology-neutral regulations that do not have to be continually rewritten to keep up with innovation, and activity-based regulations that do not require burdensome and costly entity-registration requirements that stifle competition by raising the gate to new entrants with less capital (namely, start-ups and entrepreneurs).
It is critical that once further regulatory clarity is provided, including through interpretations and exemptions, that the CFTC is prepared to move quickly rather than waiting to complete the 4 to 5 year process to develop and adopt additional digital asset regulations, for the crypto and financial sector to then spend even more years to implement.
The regulatory burn rate and the costs of missing out on market share are real.
A simple approach that can be completed in 12 to 18 months is the fastest way to ensure that the U.S. is no longer left behind when it comes to promoting innovation and welcoming American entrepreneurs and companies to come back home.
This is how we ensure U.S. competitiveness and that the U.S. leads the way in harnessing the potential of this new technology to create economic opportunities for all Americans. This is how the U.S. becomes the crypto capital of the world.
UK and U.S. Relationship
In the FinTech and digital-assets space, the CFTC’s coordination with our UK counterparts has enabled us to navigate the rapidly changing landscape, mitigate risks, and advance responsible innovation. I especially want to recognize our close cooperation with the FCA in this regard.
In 2018, the CFTC and the FCA signed a FinTech Innovation Arrangement wherein we each committed to collaborate and support innovative firms through our respective financial technology initiatives.
CFTC staff members have also benefitted from participating with their UK peers and other regulatory partners in the Financial Innovation Partnership, which is a dialogue like the FRWG, designed to focus on facilitating our mutual engagement in financial innovation.
In other areas of financial services oversight, we have a long and deep history of collaboration.
These long-standing examples serve as a formidable blueprint for successful collaboration going forward regarding digital-assets, decentralized finance, and artificial intelligence (AI):

In 1986, the CFTC and the Securities and Exchange Commission (SEC) signed a memorandum of understanding with the UK Department of Trade and Industry, now succeeded by the FCA.

In 1989, the CFTC included the UK among the first exemptions issued under Rule 30.10 (allowing UK firms to serve as futures brokers for U.S. customers on UK exchanges without having to register as brokers in the U.S.). Many UK firms still avail themselves of this 30.10 relief.

In 1991, we signed a memorandum of understanding amongst the CFTC, SEC, the then Department of Trade and Industry, and the Securities and Investments Board (the latter two succeeded by the FCA, the Prudential Regulation Authority, and the Bank of England) on mutual assistance and the exchange of information.

In 2009, the CFTC and the Bank of England executed a memorandum of understanding on Central Counterparty Clearing House (CCP) supervision.

In 2020, the CFTC revised that clearing memorandum of understanding with the Bank of England to reflect the cooperation and exchange of information in the supervision and oversight of CCPs that operate on a cross-border basis in the U.S. and UK.

In the Spring of 2023, the CFTC and Bank of England announced a further strengthening of our commitment to close cooperation and mutual understandings on the supervision of CCPs.

Later in 2023, the UK Parliament published its CCP equivalence decision for the CFTC. This was an important milestone in our mutual deferential approach to supervision because it highlights our strong cooperation and allows greater cross-border access for our regulated entities.

Each of these achievements have been possible because we have a relationship based on trust and mutual respect.
Since the financial crisis and global derivatives regulatory reform, the CFTC directly regulates the largest UK banks as swap dealers, and much hard work has gone into establishing a substituted compliance and mutual recognition regime. I’m pleased to have furthered these efforts under my chairmanship as well.
The UK-U.S. Financial Regulatory Working Group
During the most recent FRWG meeting, representatives of our finance ministries, markets regulators, and prudential authorities discussed the strong current of innovation evident in our jurisdictions as well as the means to collaborate on a foundational framework in the areas of digital-assets and AI.
Our respective delegations provided updates on proposed legislation to regulate digital assets, including stablecoin. UK participants also noted that you have updated your Digital Securities Sandbox and are building on recent discussions between the Chancellor and the U.S. Treasury Secretary.
Importantly, the FRWG also discussed exploring potential opportunities to support cross-border innovation. Participants emphasized the importance of effective regulation in promoting economic growth while also addressing risks and continued bilateral and international engagement within the sector and amongst authorities.
In that regard, FRWG representatives also exchanged views on their respective approaches to AI and both current and future AI use cases within financial services. U.S. and UK authorities discussed means to work together, including as appropriate through international standard-setting and coordination institutions, to realize the potential of this technology and address the risks of AI in financial services.
Conclusion
During my chairmanship and as a commissioner, I have tirelessly advocated for a level playing field for global businesses and access to markets. Relationships—especially special ones like ours, the UK and the U.S.—make this possible.
Through my work with the CFTC’s GMAC and engagement with international standard-setters like the Financial Stability Board (FSB), Bank for International Settlements (BIS) and the Basel Committee for Banking Supervision (BCBS), the International Organization of Securities Commissions (IOSCO), and the Organization for Economic Co-operation and Development (OECD), and my bilateral relationships with nearly two dozen of the CFTC’s regulatory counterparts around the world, I believe that we can achieve shared prosperity through economic growth and the engine of capital markets.
As our Nations continue to forge ahead with our pro-innovation agendas through our multiple regulatory initiatives, our markets will be well-served by our continued cooperation.
Thank you.

MIL OSI USA News –

June 28, 2025
MIL-OSI USA: Remarks by Acting Chairman Caroline D. Pham, 100 Impact Leaders Dinner and Annual Awards, Digital Assets Global Forum, UK House of Lords

Source: US Commodity Futures Trading Commission

Good evening, my lords, ladies and gentlemen. I would like to express my gratitude to Lord Taylor of Warwick and Dr. Lisa Cameron, as well as the Financial Club and the UK US Crypto Alliance, for this recognition at the Digital Assets Global Forum 100 Impact Leaders Dinner and Annual Awards and inviting me to provide remarks. Thank you also to Baroness Uddin and Lord Ranger, and especially to all the event staff at the House of Lords.
It is a great honor to receive this year’s Legacy Award, and a great privilege to share my views regarding innovation and market structure in financial services. Tonight’s event is a testament to the strength and longevity of the close relationships among UK and U.S. institutions, and the special relationship between our two great Nations.
Crypto and Digital Assets
In April, Treasury Secretary Bessent and Chancellor Reeves discussed digital asset regulation and laid the groundwork for our governments to explore ways “to support the use and responsible growth of digital assets.”
In the context of that discussion, I was pleased to learn that Chancellor Reeves acknowledged the importance of the UK-U.S. Financial Regulatory Working Group (FRWG), which I will discuss in a few minutes. Both the U.S. Commodity Futures Trading Commission (CFTC) and the UK Financial Conduct Authority (FCA) are members, and our agencies have partnered closely for decades.
The UK Government has moved quickly on cryptoasset regulatory proposals, including the FCA’s public consultation on various papers and publication of an FCA Crypto Roadmap.
So, I would like to highlight for you the CFTC’s swift progress on President Trump’s executive orders and policy agenda for digital assets.
For both our Nations, this is the light at the end of a very long tunnel, the dawn of a new golden age for market innovation, and the culmination of years of hard work by both the public and private sectors.
Responsible innovation and fair competition
While UK regulators have recently gained a secondary mandate on competition, the CFTC has long had a dual mandate to promote responsible innovation and fair competition in our markets.
Our dual mandate enshrines the simple truth that derivatives are financial instruments that are at the cutting edge of market innovation, and therefore our regulatory framework must be principles-based and flexible to adapt to new markets and new products.
Let me tell you about my personal journey towards ensuring that the CFTC remains not only the first, but also at the forefront, of leadership on digital asset markets.
The U.S. regulation of spot digital assets is a high priority for the CFTC because the largest digital asset markets are commodities.
It is also a high priority for me because I have worked on crypto and digital assets initiatives for over 10 years—since 2013, when I was staff at the CFTC and the Bitcoin Foundation came to Washington, DC to engage with regulators on responsible innovation.
That’s right—the crypto industry did not run away from regulation, they ran towards it, even in those early years, in hopes of finding a clear regulatory roadmap.
At that time, we at the CFTC thought that Bitcoin was a commodity. Two years later, in 2015, the CFTC made this view known publicly, and has maintained this view ever since as this novel asset class has expanded to include more tokens.
After my initial experience with crypto at the CFTC, I engaged on crypto again in the private sector.
I worked on Citi’s digital asset strategy, including product development and strategic equity and venture capital investments, and I worked on transactions, partnerships, vendors, and new clients.
I led digital assets global regulatory strategy and policy advocacy and initiatives to implement governance, risk, and control frameworks and compliance policies and procedures. That included leading global engagement in supervisory examinations of distributed ledger technology (DLT or blockchain) and digital assets by both U.S. and non-U.S. regulators—including the FCA.
Based on my hands-on experience, when I became a CFTC Commissioner, I knew providing regulatory clarity for digital assets had to be a priority.
I first proposed 10 fundamentals for responsible digital asset markets, which could be universally applied in any jurisdiction, in 2022. Then, I proposed a CFTC digital asset markets pilot program as a U.S. regulatory sandbox in 2023. I was gratified to be named to CoinDesk’s Most Influential 2023 list for these efforts.
Last year, in 2024, the Digital Asset Markets Subcommittee of the CFTC’s Global Markets Advisory Committee (GMAC), which I sponsor, developed and made two recommendations to the Commission: (1) a U.S. digital asset taxonomy and (2) regulatory treatment of tokenized non-cash collateral.
I want to thank the firms—many in this audience—from the largest banks and asset managers, to exchanges and clearinghouses, to crypto native startups, who have contributed to the GMAC’s efforts and graciously provided their time and resources to create a consensus view across both traditional and digital asset markets.
These recommendations for industry standards reflect years of thoughtful, disciplined work from the actual builders in this space who are the industry leaders.
It’s a common global solution that works for everyone, and also includes input from both international standard setters and non-U.S. regulatory authorities.
A golden age for market innovation
This year, in the Trump Administration’s first 100 days, the CFTC has taken decisive action to implement these prior proposals and promote a pro-innovation, pro-growth approach for digital assets.
The CFTC is a member of the President’s Working Group on Digital Asset Markets, which is expected to release a report next month that will be the Administration’s crypto roadmap. We have been working closely with the U.S. Treasury Department, the SEC, and other agencies on this productive and fruitful effort.
In February, I hosted a first-ever Crypto CEO Forum and participated in the groundbreaking White House Digital Assets Summit.
The CFTC has withdrawn outdated staff advisories and released new guidance to improve regulatory clarity for American and other innovators and entrepreneurs in crypto and digital assets.
We have had discussions on a digital asset markets pilot program and will soon participate as an observer in industry tokenization initiatives.
And, the CFTC recently completed a public comment period on 24/7 trading and perpetual derivatives, two crypto market innovations that may have implications for other asset classes with sufficient liquidity. Perpetual derivatives have been trading live on CFTC-registered designated contract markets (DCMs) since April, and 24/7 trading has been live since May.
The CFTC has provided technical assistance to Congress on various digital asset legislative proposals, including the CLARITY Act, and stands ready to carry out our mission if our jurisdiction is expanded. The future is bright.
Looking ahead, the U.S. must have a durable and flexible approach to regulation that will keep up with continuing innovation and stand the test of time.
Lessons learned
I appreciate Lord Taylor’s remarks about learning from the past. I will share some lessons learned from my experience at the CFTC and in the private sector with implementing the Dodd-Frank Act, the last time the U.S. enacted legislation that dramatically reshaped market structure.
The CFTC’s implementation of Dodd-Frank with our swaps regulations had far-reaching unintended consequences. Fifteen years later, the CFTC is still working to eliminate unworkable, overly burdensome requirements and resolve regulatory overreach that have significantly increased costs for all market participants with no meaningful benefits.
There are two key lessons learned, and we must not repeat the mistakes of the past.
Regulatory moat
First, Dodd-Frank’s duplicative, costly, and unnecessary regulatory requirements that cost billions of dollars annually for registration, compliance, and reporting—in addition to enforcement penalties that have become a tax on doing business—have resulted in a regulatory moat that is a barrier to entry for smaller firms, startups, and entrepreneurs.
This has led to anti-competitive effects and consolidation and concentration of market participants, because only the biggest firms can afford the overhead.
Any mandate or issuance of new regulations by the CFTC should leverage our existing registration categories and compliance requirements to avoid piling on with another layer of overregulation that has no benefit to market integrity or customer protection.
Market fragmentation
Second, Dodd-Frank’s jurisdictional overreach and the CFTC’s initial approach to cross-border activity resulted in swaps market fragmentation. These effects were especially profound in London and New York, the most important trading hubs.
A lack of harmonization based on principles of international comity, mutual recognition, and regulatory coherence led to fractured market liquidity that is less resilient to market shock or dislocation, increasing both market volatility and systemic risk.
Market fragmentation also resulted in increased complexity and costs for international financial institutions and other market participants’ legal entity strategy, booking models, and other operational processes. Increasing complexity increases both financial and non-financial risks.
Again, fifteen years later, the CFTC still has not completed implementing a substituted compliance regime across all CFTC swaps regulation.
Most of the CFTC’s over 20 staff letters, advisories, or other guidance issued since January under my leadership as acting Chairman have been to fix remaining Dodd-Frank issues based on my experience as an operating executive.
Because crypto and digital asset markets are borderless by design, it is imperative that the CFTC’s policy approach ensures that substituted compliance will be available from the start for entities that are properly registered in their home country jurisdictions that have comparable regulatory schemes, and that reciprocal mutual recognition for CFTC-registered entities is available as well.
The close partnership between UK and U.S. authorities can help to achieve this regulatory coherence. By leveraging existing registration categories and cross-border substituted compliance or mutual recognition, the CFTC and our non-U.S. regulatory counterparts would not have to reinvent the wheel and further delay growth and progress for digital asset markets.
Our current CFTC regulated entities could begin trading crypto on day one, and bring previously offshore activity back onshore to the U.S. with no negative impact to depth of market liquidity.
Simplicity is the solution
I have encouraged technology-neutral regulations that do not have to be continually rewritten to keep up with innovation, and activity-based regulations that do not require burdensome and costly entity-registration requirements that stifle competition by raising the gate to new entrants with less capital (namely, start-ups and entrepreneurs).
It is critical that once further regulatory clarity is provided, including through interpretations and exemptions, that the CFTC is prepared to move quickly rather than waiting to complete the 4 to 5 year process to develop and adopt additional digital asset regulations, for the crypto and financial sector to then spend even more years to implement.
The regulatory burn rate and the costs of missing out on market share are real.
A simple approach that can be completed in 12 to 18 months is the fastest way to ensure that the U.S. is no longer left behind when it comes to promoting innovation and welcoming American entrepreneurs and companies to come back home.
This is how we ensure U.S. competitiveness and that the U.S. leads the way in harnessing the potential of this new technology to create economic opportunities for all Americans. This is how the U.S. becomes the crypto capital of the world.
UK and U.S. Relationship
In the FinTech and digital-assets space, the CFTC’s coordination with our UK counterparts has enabled us to navigate the rapidly changing landscape, mitigate risks, and advance responsible innovation. I especially want to recognize our close cooperation with the FCA in this regard.
In 2018, the CFTC and the FCA signed a FinTech Innovation Arrangement wherein we each committed to collaborate and support innovative firms through our respective financial technology initiatives.
CFTC staff members have also benefitted from participating with their UK peers and other regulatory partners in the Financial Innovation Partnership, which is a dialogue like the FRWG, designed to focus on facilitating our mutual engagement in financial innovation.
In other areas of financial services oversight, we have a long and deep history of collaboration.
These long-standing examples serve as a formidable blueprint for successful collaboration going forward regarding digital-assets, decentralized finance, and artificial intelligence (AI):

In 1986, the CFTC and the Securities and Exchange Commission (SEC) signed a memorandum of understanding with the UK Department of Trade and Industry, now succeeded by the FCA.

In 1989, the CFTC included the UK among the first exemptions issued under Rule 30.10 (allowing UK firms to serve as futures brokers for U.S. customers on UK exchanges without having to register as brokers in the U.S.). Many UK firms still avail themselves of this 30.10 relief.

In 1991, we signed a memorandum of understanding amongst the CFTC, SEC, the then Department of Trade and Industry, and the Securities and Investments Board (the latter two succeeded by the FCA, the Prudential Regulation Authority, and the Bank of England) on mutual assistance and the exchange of information.

In 2009, the CFTC and the Bank of England executed a memorandum of understanding on Central Counterparty Clearing House (CCP) supervision.

In 2020, the CFTC revised that clearing memorandum of understanding with the Bank of England to reflect the cooperation and exchange of information in the supervision and oversight of CCPs that operate on a cross-border basis in the U.S. and UK.

In the Spring of 2023, the CFTC and Bank of England announced a further strengthening of our commitment to close cooperation and mutual understandings on the supervision of CCPs.

Later in 2023, the UK Parliament published its CCP equivalence decision for the CFTC. This was an important milestone in our mutual deferential approach to supervision because it highlights our strong cooperation and allows greater cross-border access for our regulated entities.

Each of these achievements have been possible because we have a relationship based on trust and mutual respect.
Since the financial crisis and global derivatives regulatory reform, the CFTC directly regulates the largest UK banks as swap dealers, and much hard work has gone into establishing a substituted compliance and mutual recognition regime. I’m pleased to have furthered these efforts under my chairmanship as well.
The UK-U.S. Financial Regulatory Working Group
During the most recent FRWG meeting, representatives of our finance ministries, markets regulators, and prudential authorities discussed the strong current of innovation evident in our jurisdictions as well as the means to collaborate on a foundational framework in the areas of digital-assets and AI.
Our respective delegations provided updates on proposed legislation to regulate digital assets, including stablecoin. UK participants also noted that you have updated your Digital Securities Sandbox and are building on recent discussions between the Chancellor and the U.S. Treasury Secretary.
Importantly, the FRWG also discussed exploring potential opportunities to support cross-border innovation. Participants emphasized the importance of effective regulation in promoting economic growth while also addressing risks and continued bilateral and international engagement within the sector and amongst authorities.
In that regard, FRWG representatives also exchanged views on their respective approaches to AI and both current and future AI use cases within financial services. U.S. and UK authorities discussed means to work together, including as appropriate through international standard-setting and coordination institutions, to realize the potential of this technology and address the risks of AI in financial services.
Conclusion
During my chairmanship and as a commissioner, I have tirelessly advocated for a level playing field for global businesses and access to markets. Relationships—especially special ones like ours, the UK and the U.S.—make this possible.
Through my work with the CFTC’s GMAC and engagement with international standard-setters like the Financial Stability Board (FSB), Bank for International Settlements (BIS) and the Basel Committee for Banking Supervision (BCBS), the International Organization of Securities Commissions (IOSCO), and the Organization for Economic Co-operation and Development (OECD), and my bilateral relationships with nearly two dozen of the CFTC’s regulatory counterparts around the world, I believe that we can achieve shared prosperity through economic growth and the engine of capital markets.
As our Nations continue to forge ahead with our pro-innovation agendas through our multiple regulatory initiatives, our markets will be well-served by our continued cooperation.
Thank you.

MIL OSI USA News –

June 28, 2025
MIL-OSI Analysis: Climate, conflict and energy security – our research shows how the EU’s industrial policy must change to face this polycrisis

Source: The Conversation – UK – By Richard Bärnthaler, Lecturer (Assistant Professor) in Ecological Economics, University of Leeds

Green energy sites like Flevoland in the Netherlands will be part of the EU’s industrial future. fokke baarssen/Shutterstock

Industrial policy is back – it’s currently central to the agendas of both the EU and the UK. This resurgence comes amid a polycrisis marked by climate breakdown, social inequality, energy insecurity and geopolitical instability. And it reflects a wider shift. Governments across G20 countries are stepping in more actively to shape their economies, moving away from the idea that markets should be left to run themselves.

This is an important development. But current frameworks for industrial policy risk deepening the crises they are meant to solve.

In our research with Sebastian Mang of the New Economics Foundation, we have found that in the case of the EU, its industrial policy framework is riddled with contradictions.

It seeks resilience, yet fails to strengthen essential public services that underpin stability. It aims for strategic autonomy, yet reinforces resource dependencies. And while it gestures towards sustainability, it remains tethered to private-sector strategies that delay the phase-out of harmful industries.

Eroding foundations

EU industrial policy aims to strengthen the resilience of the bloc’s single market by preventing supply chain disruptions. It rightly views Europe’s economy as an interconnected ecosystem, where shocks in one sector ripple across others. But it fails to prioritise the foundational sectors that sustain everyday life. These include essential services such as food, utilities, housing, healthcare and public transport.

Two core issues drive this failure. First, deregulation in the single market has often extended to essential services, pushing providers to operate like private businesses. For example, liberalisation of the energy sector has contributed to volatile prices and energy poverty. And EU competition law and state aid rules have historically constrained social housing provision.

Yet social resilience — the capacity of communities to withstand and recover from crises — and, by extension market resilience, rely on these essential services. But affordable housing, universal healthcare and affordable energy for households are often not prioritised.

Second, EU industrial policy lacks a clear definition of which sectors are “critical” and why. This results in inconsistent lists of priority industries and technologies, while foundational sectors like energy and housing often remain overlooked.

These blind spots have real consequences. Around 40% of Europe’s workforce is employed in foundational sectors. These sectors are where low-income households spend about two-thirds of their income. Yet they often remain precarious and undervalued, leaving Europe more exposed to economic shocks.

To build real resilience, industrial policy must reassert public control over essential services and recognise them as priorities. This means redefining what counts as “critical”, supporting jobs in foundational sectors and accelerating public investment. This investment could be enabled through measures such as reforming the fiscal rules and with joint borrowing by member states.

The scramble for resources

Europe is pushing for strategic autonomy (the capacity of the bloc to act in strategically important areas, without being dependent on non-member countries). The aim is to reduce reliance on imports in key industries such as green technology.

But to make this happen, the EU should put reducing demand for resources and energy at the centre of its industrial policy. Instead, however, its Critical Raw Materials Act foresees skyrocketing consumption of rare earths, lithium and other inputs.

This strategy is self-defeating. It increases the likelihood of European aggression towards the rest of the world and ultimately threatens long-term security and peace for all. These tensions are already surfacing. Export restrictions on things such as nickel, cobalt and rare earth minerals are multiplying. In an era of geopolitical ruptures, these tendencies are likely to intensify.

At the same time, resource conflicts are also escalating within Europe itself. Tensions are emerging in countries including Serbia, Portugal and Greece over lithium and copper, and the environmental and social costs of mining them. And indigenous communities such as the Sámi in northern Europe face threats to their land and rights.

This is not to argue against increasing the extraction of raw materials within Europe. However, without an absolute reduction in energy and material use, these contradictions will deepen. To avoid these problems, the EU must centre industrial policy on reducing unnecessary demand. Some key moves could include investing in public transport instead of subsidising cars, prioritising retrofitting over new building, ending planned obsolescence and backing agro-ecology over industrial farming.

Investing in public rather than private transport will help European nations reduce their demand on energy and materials.
The Global Guy/Shutterstock

Research shows that this kind of strategy could significantly lower Europe’s energy use. It could also drastically cut reliance on critical imports and contribute to achieving energy independence by 2050. This is all without compromising basic quality of life.

If Europe wants peace and security, demand reduction is a rational approach that must be at the heart of the EU’s industrial strategy. This should be adopted alongside strengthening ties of cooperation and integration with the rest of Eurasia and the global south, rather than ramping up antagonism towards these neighbours.

Green transition

The EU’s vision of “competitive sustainability” rests on the belief that market incentives and the private sector can drive the green transition. Yet despite decades of efficiency improvements, high-income countries have not decoupled material use and emissions from economic growth at the speed and scale required.

The EU remains reliant on derisking – using public subsidies, guarantees and looser regulations to make green investments attractive to private finance. But as this approach leaves both the pace and direction of change to private capital, it slows the phase-out of harmful industries.

What’s missing is more effective economic planning to restore public control over decarbonisation. Achieving this means building on existing mechanisms capable of delivering change — such as public credit guidance. This sets rules to limit the flow of finance from commercial banks to damaging sectors while directing investment toward sustainable ones.

China offers an example whereby the central bank has used public credit guidance to shift finance to cleaner sectors. The European Central Bank also experimented with credit guidance between 2022 and 2023, introducing climate scores for companies. And post-war France used planned credit to modernise infrastructure over two decades.

Europe and the UK are rearming, climate shocks are intensifying and global power dynamics are shifting. This moment demands a new industrial strategy — one that prioritises foundational sectors and creates fiscal space to build resilience. Reducing demand must be a prerequisite for security, peace and strategic autonomy. And reviving economic planning tools, such as public credit guidance, can accelerate the green transition.

Without these shifts, Europe and the UK face an increasingly unstable future. Industrial policy must change because the stakes are existential.

The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. Climate, conflict and energy security – our research shows how the EU’s industrial policy must change to face this polycrisis – https://theconversation.com/climate-conflict-and-energy-security-our-research-shows-how-the-eus-industrial-policy-must-change-to-face-this-polycrisis-259477

MIL OSI Analysis –

June 28, 2025
MIL-OSI Analysis: Climate, conflict and energy security – our research shows how the EU’s industrial policy must change to face this polycrisis

Source: The Conversation – UK – By Richard Bärnthaler, Lecturer (Assistant Professor) in Ecological Economics, University of Leeds

Green energy sites like Flevoland in the Netherlands will be part of the EU’s industrial future. fokke baarssen/Shutterstock

Industrial policy is back – it’s currently central to the agendas of both the EU and the UK. This resurgence comes amid a polycrisis marked by climate breakdown, social inequality, energy insecurity and geopolitical instability. And it reflects a wider shift. Governments across G20 countries are stepping in more actively to shape their economies, moving away from the idea that markets should be left to run themselves.

This is an important development. But current frameworks for industrial policy risk deepening the crises they are meant to solve.

In our research with Sebastian Mang of the New Economics Foundation, we have found that in the case of the EU, its industrial policy framework is riddled with contradictions.

It seeks resilience, yet fails to strengthen essential public services that underpin stability. It aims for strategic autonomy, yet reinforces resource dependencies. And while it gestures towards sustainability, it remains tethered to private-sector strategies that delay the phase-out of harmful industries.

Eroding foundations

EU industrial policy aims to strengthen the resilience of the bloc’s single market by preventing supply chain disruptions. It rightly views Europe’s economy as an interconnected ecosystem, where shocks in one sector ripple across others. But it fails to prioritise the foundational sectors that sustain everyday life. These include essential services such as food, utilities, housing, healthcare and public transport.

Two core issues drive this failure. First, deregulation in the single market has often extended to essential services, pushing providers to operate like private businesses. For example, liberalisation of the energy sector has contributed to volatile prices and energy poverty. And EU competition law and state aid rules have historically constrained social housing provision.

Yet social resilience — the capacity of communities to withstand and recover from crises — and, by extension market resilience, rely on these essential services. But affordable housing, universal healthcare and affordable energy for households are often not prioritised.

Second, EU industrial policy lacks a clear definition of which sectors are “critical” and why. This results in inconsistent lists of priority industries and technologies, while foundational sectors like energy and housing often remain overlooked.

These blind spots have real consequences. Around 40% of Europe’s workforce is employed in foundational sectors. These sectors are where low-income households spend about two-thirds of their income. Yet they often remain precarious and undervalued, leaving Europe more exposed to economic shocks.

To build real resilience, industrial policy must reassert public control over essential services and recognise them as priorities. This means redefining what counts as “critical”, supporting jobs in foundational sectors and accelerating public investment. This investment could be enabled through measures such as reforming the fiscal rules and with joint borrowing by member states.

The scramble for resources

Europe is pushing for strategic autonomy (the capacity of the bloc to act in strategically important areas, without being dependent on non-member countries). The aim is to reduce reliance on imports in key industries such as green technology.

But to make this happen, the EU should put reducing demand for resources and energy at the centre of its industrial policy. Instead, however, its Critical Raw Materials Act foresees skyrocketing consumption of rare earths, lithium and other inputs.

This strategy is self-defeating. It increases the likelihood of European aggression towards the rest of the world and ultimately threatens long-term security and peace for all. These tensions are already surfacing. Export restrictions on things such as nickel, cobalt and rare earth minerals are multiplying. In an era of geopolitical ruptures, these tendencies are likely to intensify.

At the same time, resource conflicts are also escalating within Europe itself. Tensions are emerging in countries including Serbia, Portugal and Greece over lithium and copper, and the environmental and social costs of mining them. And indigenous communities such as the Sámi in northern Europe face threats to their land and rights.

This is not to argue against increasing the extraction of raw materials within Europe. However, without an absolute reduction in energy and material use, these contradictions will deepen. To avoid these problems, the EU must centre industrial policy on reducing unnecessary demand. Some key moves could include investing in public transport instead of subsidising cars, prioritising retrofitting over new building, ending planned obsolescence and backing agro-ecology over industrial farming.

Investing in public rather than private transport will help European nations reduce their demand on energy and materials.
The Global Guy/Shutterstock

Research shows that this kind of strategy could significantly lower Europe’s energy use. It could also drastically cut reliance on critical imports and contribute to achieving energy independence by 2050. This is all without compromising basic quality of life.

If Europe wants peace and security, demand reduction is a rational approach that must be at the heart of the EU’s industrial strategy. This should be adopted alongside strengthening ties of cooperation and integration with the rest of Eurasia and the global south, rather than ramping up antagonism towards these neighbours.

Green transition

The EU’s vision of “competitive sustainability” rests on the belief that market incentives and the private sector can drive the green transition. Yet despite decades of efficiency improvements, high-income countries have not decoupled material use and emissions from economic growth at the speed and scale required.

The EU remains reliant on derisking – using public subsidies, guarantees and looser regulations to make green investments attractive to private finance. But as this approach leaves both the pace and direction of change to private capital, it slows the phase-out of harmful industries.

What’s missing is more effective economic planning to restore public control over decarbonisation. Achieving this means building on existing mechanisms capable of delivering change — such as public credit guidance. This sets rules to limit the flow of finance from commercial banks to damaging sectors while directing investment toward sustainable ones.

China offers an example whereby the central bank has used public credit guidance to shift finance to cleaner sectors. The European Central Bank also experimented with credit guidance between 2022 and 2023, introducing climate scores for companies. And post-war France used planned credit to modernise infrastructure over two decades.

Europe and the UK are rearming, climate shocks are intensifying and global power dynamics are shifting. This moment demands a new industrial strategy — one that prioritises foundational sectors and creates fiscal space to build resilience. Reducing demand must be a prerequisite for security, peace and strategic autonomy. And reviving economic planning tools, such as public credit guidance, can accelerate the green transition.

Without these shifts, Europe and the UK face an increasingly unstable future. Industrial policy must change because the stakes are existential.

The authors do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

– ref. Climate, conflict and energy security – our research shows how the EU’s industrial policy must change to face this polycrisis – https://theconversation.com/climate-conflict-and-energy-security-our-research-shows-how-the-eus-industrial-policy-must-change-to-face-this-polycrisis-259477

MIL OSI Analysis –

June 28, 2025
MIL-OSI Canada: Government Announces Over $640,000 in Additional Investments to Address Gender Based Violence
Source: Government of Canada regional news

Released on June 27, 2025

The Government of Saskatchewan continues to implement the National Action Plan to End Gender-based Violence with a new investment of over $640,000 to support four unique initiatives administered by community-based organizations and the agencies that support them. These funds are in addition to the $3.8 million provided to 16 agencies across Saskatchewan announced in early 2025.

The National Action Plan to End Gender-based Violence is a ten-year collaborative framework for a national approach to ending gender-based violence. The Government of Canada has provided Saskatchewan $20.3 million over four years to implement new initiatives that create opportunities for action.

“We are proud to empower and support community-based organizations across the province as they create programs, provide services and research new practices to build safe communities,” Justice Minister and Attorney General Tim McLeod, K.C. said. “This increased investment will strengthen outreach and provide families with the tools they need to build a successful path forward.”

This funding will be provided to the following community-based organizations and agencies that support them to develop new initiatives:
- Building Active Bystanders Training Program (ChangeMakers – $313,960): This funding is being provided to Changemakers to develop a Building Active Bystanders program, which will teach people how to safely intervene in and report incidents involving interpersonal violence.
- Indigenous Led Approaches to Addressing Gender-based Violence: Through this initiative, a total of $120,000 will be provided to three agencies to enhance support for Indigenous approaches to gender-based violence.
- Federation of Sovereign Indigenous Nations (FSIN) ($40,000): The Saskatchewan First Nations Women’s Commission will guide the FSIN Women’s Secretariat in developing a strategy for addressing gender-based violence in Urban and Rural First Nation communities.
- YWCA Regina ($40,000): YWCA Regina will support the Bridging Culture and Care project with an Elder in Residence and traditional healing sessions with All Nations Hope Network.
- YWCA Saskatoon ($40,000): YWCA Saskatoonwill lead an initiative to train staff on how to provide culturally appropriate services and furnish and decorate new transitional housing in a culturally appropriate way for Indigenous clients.
- Safe and Together Model Evaluation (Qatalyst Group – $110,566): The Ministry of Justice and Attorney General and the Ministry of Social Services will provide funding to Qatalyst to evaluate the Safe and Together program, which works to improve collaboration among service providers in addressing the actions and behaviours of perpetrators of violence.
- Maddison Sessions Conference (Buckspring Foundation, $100,000): The Maddison Sessons Conference was hosted in Saskatoon in April of 2025. The event provided strong networking opportunities and promoted an exchange of ideas among those working in the area of gender-based violence, law enforcement, lawyers and advocates.
“Saskatchewan’s implementation of the National Action Plan to End Gender-based Violence is focused on prevention, this includes expanding awareness and education, increasing Indigenous-led approaches and support for survivors,” Minister Responsible for the Status of Women Alana Ross said. “This additional funding will help these community-based organizations continue to deliver service and supports that will build a safer Saskatchewan, free of interpersonal violence and abuse.”

“Funding through the National Action Plan to End Gender-based Violence is crucial to the YWCA’s ability to ensure that women and children experiencing violence have access to culturally appropriate healing and can make lifelong connections with Indigenous community and support,” YWCA Regina Chief Executive Officer Melissa Coomber-Bendtsen said. “This impact ensures sustainable support as women navigate their healing journey.”

This year, the Government of Saskatchewan is dedicating approximately $32 million to partners that facilitate interpersonal violence programs and services through the justice system. This includes $14.2 million per year being provided to community-based partners, over $4.1 million in funding through the National Action Plan to End Gender-based Violence, annualized funding for second-stage shelters, and additional funding for Victims Services and other important supports.

“Local, community-based solutions are how we move forward – and that is exactly what this investment supports,” Federal Minister of Women and Gender Equality and Secretary of State (Small Business and Tourism) Rechie Valdez said. “Through the National Action Plan to End Gender-based Violence, the Government of Canada is working alongside organizations in Saskatchewan to help build programs that reflect people’s lived experiences, meet survivors where they are, and create safer communities for women, girls, and 2SLGBTQI+ people across the province.”

For additional information about Saskatchewan’s work under the National Action Plan to End Gender-based Violence, visit:

Major Investments Made to End Gender based Violence | News and Media | Government of Saskatchewan.

Province Invests $1.2 Million to Support Survivors of Human Trafficking | News and Media | Government of Saskatchewan.

Saskatchewan Supports National Action Plan to End Gender-based Violence | News and Media | Government of Saskatchewan.

-30-

For more information, contact:

MIL OSI Canada News –
June 28, 2025
MIL-OSI Canada: Government Announces Over $640,000 in Additional Investments to Address Gender Based Violence
Source: Government of Canada regional news

Released on June 27, 2025

The Government of Saskatchewan continues to implement the National Action Plan to End Gender-based Violence with a new investment of over $640,000 to support four unique initiatives administered by community-based organizations and the agencies that support them. These funds are in addition to the $3.8 million provided to 16 agencies across Saskatchewan announced in early 2025.

The National Action Plan to End Gender-based Violence is a ten-year collaborative framework for a national approach to ending gender-based violence. The Government of Canada has provided Saskatchewan $20.3 million over four years to implement new initiatives that create opportunities for action.

“We are proud to empower and support community-based organizations across the province as they create programs, provide services and research new practices to build safe communities,” Justice Minister and Attorney General Tim McLeod, K.C. said. “This increased investment will strengthen outreach and provide families with the tools they need to build a successful path forward.”

This funding will be provided to the following community-based organizations and agencies that support them to develop new initiatives:
- Building Active Bystanders Training Program (ChangeMakers – $313,960): This funding is being provided to Changemakers to develop a Building Active Bystanders program, which will teach people how to safely intervene in and report incidents involving interpersonal violence.
- Indigenous Led Approaches to Addressing Gender-based Violence: Through this initiative, a total of $120,000 will be provided to three agencies to enhance support for Indigenous approaches to gender-based violence.
- Federation of Sovereign Indigenous Nations (FSIN) ($40,000): The Saskatchewan First Nations Women’s Commission will guide the FSIN Women’s Secretariat in developing a strategy for addressing gender-based violence in Urban and Rural First Nation communities.
- YWCA Regina ($40,000): YWCA Regina will support the Bridging Culture and Care project with an Elder in Residence and traditional healing sessions with All Nations Hope Network.
- YWCA Saskatoon ($40,000): YWCA Saskatoonwill lead an initiative to train staff on how to provide culturally appropriate services and furnish and decorate new transitional housing in a culturally appropriate way for Indigenous clients.
- Safe and Together Model Evaluation (Qatalyst Group – $110,566): The Ministry of Justice and Attorney General and the Ministry of Social Services will provide funding to Qatalyst to evaluate the Safe and Together program, which works to improve collaboration among service providers in addressing the actions and behaviours of perpetrators of violence.
- Maddison Sessions Conference (Buckspring Foundation, $100,000): The Maddison Sessons Conference was hosted in Saskatoon in April of 2025. The event provided strong networking opportunities and promoted an exchange of ideas among those working in the area of gender-based violence, law enforcement, lawyers and advocates.
“Saskatchewan’s implementation of the National Action Plan to End Gender-based Violence is focused on prevention, this includes expanding awareness and education, increasing Indigenous-led approaches and support for survivors,” Minister Responsible for the Status of Women Alana Ross said. “This additional funding will help these community-based organizations continue to deliver service and supports that will build a safer Saskatchewan, free of interpersonal violence and abuse.”

“Funding through the National Action Plan to End Gender-based Violence is crucial to the YWCA’s ability to ensure that women and children experiencing violence have access to culturally appropriate healing and can make lifelong connections with Indigenous community and support,” YWCA Regina Chief Executive Officer Melissa Coomber-Bendtsen said. “This impact ensures sustainable support as women navigate their healing journey.”

This year, the Government of Saskatchewan is dedicating approximately $32 million to partners that facilitate interpersonal violence programs and services through the justice system. This includes $14.2 million per year being provided to community-based partners, over $4.1 million in funding through the National Action Plan to End Gender-based Violence, annualized funding for second-stage shelters, and additional funding for Victims Services and other important supports.

“Local, community-based solutions are how we move forward – and that is exactly what this investment supports,” Federal Minister of Women and Gender Equality and Secretary of State (Small Business and Tourism) Rechie Valdez said. “Through the National Action Plan to End Gender-based Violence, the Government of Canada is working alongside organizations in Saskatchewan to help build programs that reflect people’s lived experiences, meet survivors where they are, and create safer communities for women, girls, and 2SLGBTQI+ people across the province.”

For additional information about Saskatchewan’s work under the National Action Plan to End Gender-based Violence, visit:

Major Investments Made to End Gender based Violence | News and Media | Government of Saskatchewan.

Province Invests $1.2 Million to Support Survivors of Human Trafficking | News and Media | Government of Saskatchewan.

Saskatchewan Supports National Action Plan to End Gender-based Violence | News and Media | Government of Saskatchewan.

-30-

For more information, contact:

MIL OSI Canada News –
June 28, 2025

CWB Mutual Fund	Current Rating	New Rating	Direction of Change
CWB Onyx North American Equity Fund	Low to Medium	Medium	Higher

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