CoinGecko Creates an Index for Crypto Assets Alleged as Securities

One of the leading independent crypto data aggregators CoinGecko, has included a new index that tracts the top crypto assets that fall into the category of securities.

The classification of the tokens is based on the US Securities and Exchange Commission (SEC)'s view.

CoinGecko Launches a New Index Category of Assets On Its Platform

CoinGecko indicated the Top Alleged SEC Securities Coins" page in its listing by ranking the crypto tokens according to their market cap. The list has BNB at the top, followed by Cardano (ADA), Solana (SOL), Tron (TRX), and others.

Source: CoinGecko - Top Alleged SEC Securities Coins

In an exclusive interview with an online news site, a CoinGecko spokesperson revealed that the new index was launched within the first week of August.

The category was developed by selecting most of the prominent crypto assets that the SEC claimed were securities in its last lawsuits.

According to CoinGeck's new Index, the alleged securities coins boast a cumulative market cap of $90.76 billion. This constitutes about 7.5% of the total crypto market cap, which hovers around $1.201 trillion.

The new class index highlights a surge of 7.7% over the past day. The total 24-hour trading volume of all the tokens within the category sits at $2.86 billion. Additionally, CoinGecko placed a disclaimer regarding the listed assets within the alleged SEC Securities coins index.

It stated: Note: The labeling of these cryptocurrencies as securities by the SEC doesn't equate to the legal classification till proven in a court."

US SEC's Aggressive Regulatory Stance On Crypto

In June, the US SEC filed lawsuits against crypto exchanges Binance and Coinbase differently. The SEC listed several crypto assets that it classified as securities in its document of the cases.

The number of SEC's listed securities tokens is up to 68. However, CoinGecko's new index of the alleged securities coins is just 24. The SEC Chair, Gary Gensler, has maintained a tougher regulatory approach in crypto. He moved to the extent of classifying most cr assets as securities.

According to Gensler, every crypto token except Bitcoin is a security. This means that all assets are under the agency's regulatory jurisdiction.

Further, Gensler's claim, if correct, would have about 25,500 crypto assets listed by CoinMarketCap being regulated by the SEC. The enforcement actions and claims of the agency have created regulatory uncertainty for most crypto-related firms and protocols.

One of the outstanding lawsuits of the SEC involved the blockchain firm and creator of XRP, Ripple. The legal battle, which started on December 2020, received a final ruling on July 13.

According to the court decision, Ripple emerged as a winner due to the declaration that XRP is not a security. Also, the judge mentioned that Ripple's programmable sales of XRP on exchanges to retail investors are not securities.

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