News shocked the BOI compliance world

Last night, less than 24 hours ago as I type this, news shocked the BOI compliance world. A Texas Federal Court ruled that BOI is unconstitutional and nobody has to comply with this law whilst the injunction is in place.

The Fourth Amendment says, “The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated, and no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized.”

Apparently, this is an unreasonable search because the law was enacted to catch criminals evading discovery of their assets. While it certainly would do that, it drags along with it some 99.99% of the population who aren’t criminals evading discovery of their assets, and it’s those 99.99%  that are suffering an unreasonable search.