politics

Get in y’all, we’re DrAiNiNg ThE sWaMp

The US government will no longer require shell companies to disclose their owners and beneficiaries, per the US Treasury

unusual_whales

Get in y’all, we’re DrAiNiNg ThE sWaMp

https://x.com/unusual_whales/status/1901413183686140285?s=46

Developer/Builder.
Snob.
Fren.
Hodler.
Based mmfer.

We do some music enjoying. We shoot some hoops. We degen with the homies.

Yeah it's quite ridiculous. I'm warming up to the fact that most of them are lying all the time.

Gotta be a top 1 percentile sucker to believe this admin is reducing corruption

Navigating the world of finance by day, pondering its flaws by night. ETH Maxi

It’s terrifying. And bewildering. Our Congressional representatives have no spine.

I definitely agree that shell companies are used to launder money from bad shit. I'm just not sure that creating a huge database of every owner of every active legal entity in the US is the best approach.

In an era where the middle class is getting stomped to death by corporations, I think anti money laundering, anti tax evasion laws are net good, despite some added friction

I’m not an expert in this area so maybe this particular rule was overreaching, I’m not sure. But it’s a slimy move amongst a plethora of slimy moves from an administration who couldn’t care less about corruption and protecting the middle class

this is about BOI reports right? if so that was a brand new requirement that hadn't even come into force. not here to defend Trump, but I'm also not a big fan of voluntarily disclosing tons of info like this because the feds want more tools to monitor.