Is the SEC Cracking Down on the Crypto Industry?

Coinbase is the largest US crypto exchange. It has been given the blessing of investors as well as the SEC to your point. What would happen if it goes down the road of the SEC cracking down in a much more significant way? I think that the ultimate goal here is to stifle the crypto industry because given the publicly traded nature of this company, this would be the way for them to do it.