States and D.C. sue Trump administration over Treasury ownership rule
So, 21 US states and D.C. are suing the Trump administration over a new Treasury rule that basically lets almost all businesses skip revealing who actually owns them.
The states say this move makes it way easier for shell companies to hide illegal activity, which is exactly what the Corporate Transparency Act was supposed to prevent.
States challenge rule, Treasury defends
The lawsuit points fingers at top Treasury officials, arguing that only Congress, not the executive branch, can change laws like this.
The states want the court to toss out the rule because they believe ownership information is key for fighting money laundering and other financial crimes.
Meanwhile, the Treasury says its rule just helps businesses without putting national security at risk.
Now, everyone is waiting to see what the court decides.