Identification of digital assets owners
First of all, I don't see any traces of mandatory identification of all DLT-based assets owners. It is an essential characteristic of the book-entry financial infrastructure, it is business driven, and not rooted in technology. I expected the regulators would insist on that whatever technology is used.
However, the Swiss Federal Council seems to choose another approach similar to the one adopted by the 5th AML Directive. It requires identification only for clients of crypto wallet providers and exchanges, which leaves a significant portion of the OTC market out of AML umbrella.
If anonymous owners of DLT-based assets are allowed, how is it not a reinstatement of bearer financial instruments? The regulators have pushed such instruments out of mainstream financial markets due to high money-laundering risks inherent to them. There is no reason to invite them to the main stage again.
There is nothing complicated in implementing mandatory identification services in DLT-based financial infrastructure. This approach would be entirely justified and would have many benefits.