See also another post, found here on SN, where the WSJ article was shared by a Tweet:

Sec chair the Ethereum new software is a security 🤣 #70541 https://twitter.com/gaborgurbacs/status/1570505693358358528 [Nitter]

ETH is big enough and has a lobbying arm around it so sure it will attract attention but it won't be an easy fight, and im sure they'll create carve outs, coinbase and the like are not going to let their cash cow go down so easily