I don't know yet, as this is completely new. All this movement related to beneficial ownerships is completely new.
Beneficial ownership has been an issue for maybe three or four years at most.
Everyone is currently experimenting with this. People who are active in the field—be they lawyers, journalists or other stakeholders—prefer a system that is open to the public for reasons of transparency. I completely understand this, but that is not really the goal here. The goal is to facilitate the application of the law and prevent any violations.
If someone knows that they will use a digital company to conceal illicit funds and that their interest in that company will be revealed through a system that enables the police or an investigator to find them eventually, that will deter them from using this option. That is sort of the reasoning behind it. In my opinion, making everyone's private affairs and ownership interests public is neither necessary for the application of the law nor effective for there to be transparency when it comes to
due diligence, to let you know who you're talking to, who you're dealing with.
There are other ways to do that.