Well I said it would backfire. Congress is gearing up for a challenge against SEC. This just in...

Critics of the SEC’s decision regarding Coinbase assert that it paints an unclear regulatory picture for businesses in the fast-evolving cryptocurrency industry. Moreover, critics argue that the SEC approved the public listing of Coinbase on the one hand, only to penalize them later for operating without necessary securities registrations.

https://www.crypto-news-flash.com/u-s-congress-to-sue-sec-and-gary-gensler-allowing-public-listing-then-blocking-registration-is-indefensible/