I have franky1 on ignore, but I have read some of his arguments while logged out and it seems to me that he has some valid points, but I am not going to go into commenting on his walls of text.
It seems to me that in this whole debate, many of you commenting here are like the fish in the water, pretty smart fish, but don't realize that there is a whole world outside the water.
The police can investigate something, but its still up to the justice system to decide. They will need evidence to prove you guilty.
In reality this is not true in 100% of the cases nor in all countries. Especially in tax crimes. If you are the one who cannot prove that your funds are of lawful origin you can end up in jail. It is not the prosecution that has to prove that your funds are of illicit origin. While not exactly what is being discussed here, look at
Latvia's NFT artist who faces up to 12 years in jail, despite Latvia's lack of clear regulation.
Even if I was pretty sure I was going to win, I wouldn't want to find myself in front of a judge or jury having to explain large sums of money that have no clear origin due to the moves I have made for my right to privacy. Even less so if you're risking jail time.
I know people who went to trial being sure they were going to win and lost.
Seriously guys, don't gamble having to go to court for your right to privacy with large amounts of money.
You won't see me in court for that reason (and I hope for no other).