While it will do little to deter criminals from criminaling it could have a possible effect of people deciding to own fewer guns legally.
Straight Arrow types would probably buy fewer guns if they needed to pay for a license and insurance. People who don't give a $#! will just not register all their guns to save money. Criminals will continue to not register or insure their guns.
So there may be a paper decrease of firearms in this scenario but it may only be a slight actual decrease (not including the normal number that get pitched into rivers or the ocean after use in the commission of a crime).
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