More concretely and timely for this discussion - the beneficial ownership registry was passed in the 2021 NDAA by congress and signed by Biden. So there's a law on the books that FinCEN needs to collect the ownership data for all US companies to prevent money laundering.

This week, Bessent decided that the signature policy of the Corporate Transparency Act, a bipartisan effort to stymie cartels and foreign oligarchs, would not only be stopped, but they instructed FinCEN to delete all the records they've already collected.

Easily the most lawless gang of corrupt bureaucrats that have ever held office in the US.

https://thehill.com/business/6025347-treasury-repeals-benefi...