Cryptocurrencies, also known as digital currencies, have long been attracting the attention of both investors and ordinary users. The changing landscape of the cryptocurrency market brings a lot of excitement and new challenges. However, for those who follow these trends with minimal understanding, this whole area may seem complex and mysterious. Therefore, today we want to take a closer look at one of the latest tools that can help understand the world of cryptocurrencies from a different perspective.
Let’s look at the new cryptocurrency index that is recognized as potential securities by the U.S. Securities and Exchange Commission (SEC). This interesting index was created by CoinGecko and provides key information about the most important digital assets subject to securities-related regulations.
CoinGecko, one of the leading cryptocurrency market analysis platforms, recently announced the introduction of a new index that tracks the largest cryptocurrencies recognized by the U.S. SEC as potential securities. This index, titled “Top Alleged Securities Coins,” sorts digital assets by market capitalization, providing valuable information about popular cryptocurrencies that have been identified as potentially regulated by the federal agency.
Source: https://www.coingecko.com/en/categories/alleged-sec-securities
According to the information available on the CoinGecko website, the current list includes 24 cryptocurrencies that have previously been named in lawsuits by the SEC as potential securities. The clear leader in this ranking is Binance Coin (BNB), followed by Cardano, Solana, and TRON.
The index was introduced at the beginning of August and represents a compilation of the most significant tokens that have been subject to SEC legal actions in the context of being considered securities. The market value of these cryptocurrencies totals approximately 84.9 billion dollars, which is approximately 7.5% of the total cryptocurrency market capitalization reaching 1.21 trillion dollars.
However, it is worth noting that the current list on CoinGecko’s index is much shorter than the number of cryptocurrencies that the SEC considers should be subject to regulations. A representative of CoinGecko explains that their index focuses on the most well-known and significant tokens that have been mentioned in lawsuits. In contrast, the Securities and Exchange Commission considers 68 cryptocurrencies as potential securities.
Recent lawsuits filed by the SEC against major exchanges like Coinbase and Binance have significantly expanded the scope of cryptocurrencies recognized as securities. While not everyone in the industry agrees with this approach, SEC Chairman Gary Gensler emphasizes that the vast majority of cryptocurrencies should be considered securities. His position assumes that nearly all of the approximately 25,500 cryptocurrencies listed on the CoinMarketCap cryptocurrency data platform should be subject to SEC regulations.
The decision to classify cryptocurrencies as securities has a significant impact on the market, both for investors and the cryptocurrency industry itself. Regulations can introduce additional protections for investors and contribute to market stability. However, part of the cryptocurrency community highlights the need to maintain market innovation and flexibility to avoid stifling the potential development of this revolutionary technology.
The CoinGecko “Top Alleged Securities Coins” index can be a valuable tool for those interested in the cryptocurrency market, allowing for a better understanding of the current situation and regulations. It is worth following the development of this initiative and closely monitoring which cryptocurrencies will be included in the future, as it may have a significant impact on the entire cryptocurrency ecosystem.
