I dont believe the SEC has a choice, the government proposed laws evidently do not support their stance. SEC has lost two HUGE cases against crypto. They had Binance running scared. Thanks to American crypto innovators, they put a stop to them. That was HUGE for 2 separate cases to go against the SEC. THAT IS BEYOND HUGE, because it never happens, until now.
The SEC / FINRA slay me with this statement "we are looking out for investors!" .... lol ... whatever ....