CoinGecko launched a new index tracking the biggest crypto tokens viewed as likely securities by the United States Securities and Exchange Commission (SEC).
The ‘Top Alleged Securities Coins’ page sorts the selection of crypto assets by market capitalization, placing Binance Coin (BNB) at the top of the list — followed by Cardano (ADA), Solana (SOL) and TRON (TRX).
A CoinGecko spokesperson told Cointelegraph that the index was launched in the first week of August and was constructed by compiling a selection of the most notable tokens which had been deemed securities by the SEC in past lawsuits.
In its most recent lawsuits against crypto exchange giants Coinbase and Binance, the financial regulator brought the number of tokens it views as securities up a grand total of 68 — while CoinGecko only lists 24.
According to CoinGecko’s page, the top tokens included in the SEC’s litigated remit of the crypto space cover at least $84.9 billion of the entire market, approximately 7.5% of the $1.21 trillion total crypto market capitalization.
Meanwhile, SEC Chair Gary Gensler has gone to great lengths to clarify that the overwhelming majority of crypto assets should be considered securities, having previously claimed that “everything other than Bitcoin” is a security, and thus falls under the agency’s remit.
If Gensler is correct, it would mean that almost every last one of the approximately 25,500 cryptocurrencies listed on crypto data platform CoinMarketCap would be regulated by the SEC.