• CoinGecko launched a new index tracking crypto tokens viewed as likely securities by the US Securities and Exchange Commission.
• The SEC has brought the number of tokens it views as securities up to 68.
• SEC Chair Gary Gensler has claimed that “everything other than Bitcoin” is a security, and thus falls under the agency’s remit.

CoinGecko Launches Index for Crypto Tokens Alleged as Securities

Summary

CoinGecko recently launched an index tracking crypto assets deemed securities by the United States Securities and Exchange Commission (SEC). According to CoinGecko, nearly $85 billion worth of crypto falls under this category. The SEC has identified 68 tokens that it views as securities while CoinGeckos list only includes 24. Meanwhile, SEC Chair Gary Gensler has claimed that “everything other than Bitcoin” is a security, and thus falls under the agency’s remit.

CoinGecko Launches New Index

According to CoinGecko, they have 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 BNB (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 that had been deemed securities by the SEC in past lawsuits.

SEC Identifies 68 Tokens That It Views As Securities

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 CoinGeckos page,the top tokens included in this selection cover at least $84.9 billion ofthe entire market, approximately 7.5%ofthe $1.21 trillion total crypto market capitalization .

Gensler Claims That Everything Other Than Bitcoin Is A Security

SEC Chair Gary Genslerhas gone to great lengths to clarify that the overwhelming majorityofcrypto assets should be considered securities , having previouslyclaimedthat “everything otherthanBitcoin” isasecurity ,and thustallsundertheagency’s remit .If Gensler is correct ,itwould meanthat almosteverylast oneoftheapproximately 25 ,500cryptocurrencies listedon cryptodata platformCoinMarketCap wouldbe regulatedbythe SEC .

Conclusion

Coin Geckohas launchedanindex tracking cryptotokensviewedaslikelysecuritiesbythe UnitedStatesSecuritiesandExchangeCommission(SEC).Thetoptokensincludedintheselection coveratleast$84 .9billionoftheentiremarket ,approximately7 .5 %of$1 .21trilliontotalcryptomarketcapitalization .Meanwhile ,SECChairGaryGenslerclaimsthat “everythingotherthanBitcoinisasecurity”andsothisfallsundertheagency’sremit .