Great news for organised crime and tax-dodging oligarchs.
"...A few hours later, Trump scrapped America’s chief anti-money laundering measure — the rule that US shell companies must disclose their beneficial owner. The second move also flowed from his first. Last month, he shut down the Department of Justice’s anti-kleptocracy initiative, which has been seizing assets such as mega yachts from sanctioned Russian oligarchs.
The most striking aspect to these steps, which amount to a charter for criminals, is that Trump is making little attempt to dress them up. This pig has no lipstick. Trump and his wife Melania have launched their own memecoins. Trump’s alter ego, Elon Musk, is also a heavy crypto investor. Indeed, there is a non-cryptic clue in Musk’s so-called Department of Government Efficiency (Doge), which shares an acronym with a cryptocurrency. One of Musk’s nicknames is “Dogefather”.
FT.com