> Americans using shell companies may evade taxes. Foreign entities using shell companies may evade our counterintelligence.

Americans use incorporated entities to buy assets to limit their personal or corporate liability in operating businesses. This requires all of those to be queried for beneficial ownership - for what reason?

Anonymous Shell corporations is being used synonymously with legitimate holding companies because it markets the cause well - greater tracking on who owns what.

> greater tracking on who owns what

This is transparently the intent of the bill.

God forbid the government charged with enforcing property law know who owns what!

Public Courts are so good we chose to use private arbitration!

You're ultimately still relying on the public men-with-guns to enforce anything binding, so suck it up and get back in the public courts.

That’s quite a large assumption on who would win those battles - and further how they really have to be enforced - pen mightier than the sword, or some such.

Btw - fun ‘spar.’ I respect your thinking, just disagree slightly

> Americans using shell companies may evade taxes.

This is a general problem with the tax code. Fix what Apple does, which needs to be done anyway, and you don't have this problem.

> Foreign entities using shell companies may evade our counterintelligence.

Isn't a foreign counterintelligence service just going to list a straw man as the beneficial owner?