CoinGecko, a popular cryptocurrency data platform, recently launched a new index called “Top Alleged Securities Coins.” This index focuses on tracking the biggest crypto tokens that are viewed as likely securities by the United States Securities and Exchange Commission (SEC). The index sorts the selection of crypto assets by market capitalization, with Binance Coin (BNB) at the top of the list, followed by Cardano (ADA), Solana (SOL), and TRON (TRX).
The CoinGecko index was launched in the first week of August and includes a compilation of the most notable tokens that have been classified as securities by the SEC in past lawsuits. The SEC has been actively targeting crypto exchange giants like Coinbase and Binance in recent lawsuits, bringing the number of tokens it views as securities to a total of 68. However, the CoinGecko index lists only 24 tokens that fall under the SEC’s litigated remit.
According to CoinGecko’s page, the top tokens included in the SEC’s classification as securities cover at least $84.9 billion of the entire crypto market, representing approximately 7.5% of the total crypto market capitalization, which stands at $1.21 trillion.
SEC Chair Gary Gensler has been vocal about the agency’s stance on crypto assets, stating that the majority of them should be considered securities. Gensler has previously claimed that “everything other than Bitcoin” is a security and falls under the SEC’s regulatory purview. This would mean that almost all of the approximately 25,500 cryptocurrencies listed on CoinMarketCap would be subject to SEC regulation if Gensler’s interpretation holds true.
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The CoinGecko index aims to provide investors and market participants with valuable insights into the tokens that are likely to face regulatory scrutiny. By tracking the market capitalization of these alleged securities coins, users can stay informed about the potential risks and developments in the crypto landscape.
The index’s methodology is based on compiling data from past SEC lawsuits and legal determinations. It focuses on tokens with a significant market presence and evaluates their likelihood of being deemed securities by the SEC. This information can help investors make informed decisions when navigating the crypto market, especially considering the increasing regulatory scrutiny surrounding the industry.
By offering a dedicated index for alleged securities coins, CoinGecko acknowledges the importance of regulatory compliance in the crypto space. As the industry continues to evolve and mature, regulatory clarity becomes crucial for market participants. The CoinGecko index serves as a valuable resource for anyone interested in understanding the current landscape and potential regulatory risks associated with specific tokens.
In conclusion, CoinGecko’s launch of the “Top Alleged Securities Coins” index provides investors and market participants with a comprehensive overview of the biggest crypto tokens that are likely to be viewed as securities by the SEC. By tracking the market capitalization of these tokens, users can stay informed about the evolving regulatory landscape. As SEC Chairman Gary Gensler asserts that the majority of crypto assets should be considered securities, the index highlights the potential regulatory risks associated with various tokens. Ultimately, staying informed about regulatory developments is crucial for navigating the crypto market effectively.
