Renowned crypto lawyer Bill Morgan has shed light on the budgetary constraints faced by the SEC amid ongoing regulatory battles. In a recent post on social media platform X, Morgan pointed out that the SEC's current budget falls short of what its chairperson has requested. This limitation forces the agency to allocate significant resources towards discovering documents requested by major cryptocurrency entities like Coinbase and Ripple. Instead of pursuing settlements, the SEC finds itself entangled in resource-intensive document discovery processes. These constraints highlight the challenges the SEC faces in effectively regulating the rapidly evolving cryptocurrency industry. Morgan’s observations bring forth the pressing need for a more balanced approach between regulatory enforcement and resource allocation.