CoinGecko Introduces New Tokens List Which SEC Alleges Violation Of Securities Law
- CoinGecko unveils the ‘Top Alleged Securities Coins’ list, spotlighting SEC-identified token rankings.
- Binance Coin leads, Cardano, Solana, and TRON follow; 48 tokens are listed from the SEC’s 68 designations.
- The list reflects evolving regulations in crypto amid ongoing SEC lawsuits.
According to Cointelegraph, CoinGecko, a prominent cryptocurrency data platform, has unveiled a novel index designed to monitor crypto tokens categorized as securities by the U.S. Securities and Exchange Commission (SEC).
Dubbed the ‘Top Alleged Securities Coins,’ this new list arranges these tokens based on their market capitalization. At the summit of this listing sits Binance Coin (BNB), closely followed by Cardano (ADA), Solana (SOL), and TRON (TRX).
The creation of this index involved the compilation of noteworthy tokens that have been previously labeled as securities in legal battles with the SEC.
The SEC currently designates 68 tokens as securities; however, CoinGecko’s index focuses on a more concise selection, totaling 48 tokens, which account for roughly 7.5% of the overall crypto market capitalization.
Gary Gensler, the Chair of the SEC, consistently advocated for an increased regulatory scope, asserting that virtually all cryptocurrencies, excluding Bitcoin, should be treated as securities and fall under the jurisdiction of the SEC.
This new list, rolled out in early August, was meticulously crafted by CoinGecko in light of the SEC’s historical categorizations. The selection includes not only BNB, ADA, SOL, and TRX but also MATIC, TON, and BUSD.
The cryptocurrency landscape has seen recent legal confrontations between the SEC and major exchanges like Coinbase and Binance. The SEC’s lawsuit against Coinbase claimed that the platform had been functioning as an unlicensed securities exchange.
In response, Coinbase has sought the dismissal of the lawsuit, contending that the SEC’s allegations exceed the scope of its authority.
With differing perspectives on the classification of cryptocurrencies, the regulatory environment remains a dynamic and evolving facet of the crypto world.
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