A new index being launched by CoinGecko tracks the largest cryptocurrency tokens that the US Securities and Exchange Commission believes are probably securities. The list of crypto assets on the “Top Alleged Securities Coins” page is sorted by market capitalization, with BNB at $242 at the top, ADA at $0.292, SOL at $23, and TRX at $0.0767 following.
CoinGecko Launches an Index for Crypto Tokens Alleged to be Securities
According to a CoinGecko spokesman, the index was introduced in the first week of August and was created by gathering a number of the most well-known tokens that the SEC had previously designated as securities in court cases. The financial authority increased the total number of tokens it considers securities to 68 in its most recent litigation against the two largest cryptocurrency exchanges, Coinbase and Binance, whereas CoinGecko only includes 24.
The biggest tokens covered by the SEC’s litigated remit in the cryptocurrency field, according to CoinGecko’s page, account for at least $84.9 billion of the market as a whole, or roughly 7.5% of the $1.21 trillion overall market capitalization.
Gary Gensler Thinks Everything Except Bitcoin Is a Security
Gary Gensler, the chairman of the Securities and Exchange Commission, has gone to considerable efforts to clarify that the vast majority of cryptocurrency assets should be regarded as securities. Gensler has previously asserted that everything other than Bitcoin is security and, as such, comes under the purview of the agency. If Gensler is right, the roughly 25,500 cryptocurrencies registered on the cryptocurrency statistics platform CoinMarketCap would all be subject to SEC regulation.
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