CoinGecko Introduces Index for Crypto Tokens Deemed Securities

Nearly $85 billion in cryptocurrency is classified by CoinGecko as “alleged SEC securities.”

A new index that tracks the most significant cryptocurrency tokens that the US Securities and Exchange Commission (SEC) believes are likely to be securities has been established by CoinGecko. 

The list of cryptocurrency assets is sorted by market capitalization on the ‘Top Alleged Securities Coins’ page, with Binance Coin BNB tickers down $244 at the top, followed by Cardano ADA tickers down $0.293 and Solana SOL tickers down $23 and TRON TRX tickers down $0.0770.

Top 10 alleged securities tokens by market cap. Source: CoinGecko

According to a CoinGecko representative, the index was introduced in the first week of August. It was created by gathering several of the most well-known tokens that the SEC had previously designated 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 top tokens listed on CoinGecko’s page cover at least $84.9 billion of the overall market, or roughly 7.5% of the $1.21 trillion total market capitalization of cryptocurrencies, according to the SEC’s litigated remit of the crypto field.

The total market capitalization of alleged securities tokens. Source: CoinGecko

 The chairman of the Securities and Exchange Commission (SEC), Gary Gensler, has taken considerable pains to clarify that most cryptocurrency assets should be considered securities.

Gensler had previously asserted that “everything other than Bitcoin” is a security and is, therefore, subject to the agency’s authority.

If Gensler is correct, the roughly 25,500 cryptocurrencies registered on the cryptocurrency statistics platform CoinMarketCap would all be subject to SEC regulation.