CoinGecko has introduced a new index that tracks the largest crypto tokens the U.S. Securities and Exchange Commission views as potential securities. About $85B worth of crypto falls under this category.
The “Top Alleged Securities Coins” page sorts the crypto assets according to their market capitalization, with BNB at the top of the list, followed by Cardano, Solano, and TRON.
A spokesperson for CoinGecko stated that the index was launched in the first week of August and was constructed by compiling a selection of the most prominent tokens that the SEC had previously designated as securities.
In its most recent litigation against crypto exchange giants Coinbase and Binance, the financial regulator increased the total number of tokens it considers to be securities to 68, whereas CoinGecko only lists 24.
According to CoinGecko’s page, the top tokens included in the SEC’s litigated remit of the crypto space account for at least $84.9 billion of the market, or approximately 7.5% of the $1.21 trillion total market capitalization of cryptocurrencies.
Gary Gensler, chairman of the Securities and Exchange Commission, has gone to great lengths to clarify that most crypto assets should be deemed securities, having previously stated that “everything other than Bitcoin” is a security and thus falls under the agency’s purview.
If Gensler is correct, the SEC will regulate nearly every single one of the approximately 25,500 cryptocurrencies listed on the crypto data platform CoinMarketCap.
