Are SEC crackdowns really doing more harm than good?

These purpose of these comments about regulatory overreach impacting Free Code developers, seems engineered to turn people in the free software movement against Gary Gensler and the SEC and their attempts to crack down on financial scams that regularly fleece people of their savings, and potentially ruin them. Is there overreach or are they distorting the facts in the way they tell the story? Are the authors right that the SEC crackdowns are doing more harm than good?

Whichever you believe, convince me.

"Regulatory uncertainty surrounding licensing requirements for software publishers have dominated questions on compliance among developers since the indictment of Tornado Cash developers Roman Storm and Roman Semenov in August 2023.

Storm and Semenov, who developed a non-custodial privacy protocol for the cryptocurrency Ethereum, are charged with conspiracy to operate an unlicensed money transmitting business, conspiracy to commit money laundering and conspiracy to violate sanctions. The pair are awaiting a jury trial in December."

"Given the evidentiary hostile environment for software developers and communications service providers today, it seems unlikely that the proposed amendments to the Exchange Act would not be abused to further crackdowns on dissenting developers if the applied language remains as broad as drafted."

https://www.therage.co/gensler-to-rule-on-licensing-requirements-for-communication-protocols-2/