CoinGecko has launched a groundbreaking index named the "Top Alleged Securities Coins," (1) aimed at tracking the most prominent crypto tokens that are under scrutiny for potential classification as securities by the US Securities and Exchange Commission (SEC).
Sorting by Market Cap: BNB Takes the Lead
The new index arranges these selected cryptocurrency assets based on their respective market capitalizations. As it stands, Binance Coin (BNB) claims the top spot on this list, closely pursued by Cardano.
SEC's Expanding List vs. CoinGecko's Count
In recent times, the SEC's legal actions against major crypto exchanges, including industry giants Coinbase and Binance, have significantly expanded the roster of tokens that are being considered as securities, reaching a total count of 68. However, CoinGecko's index currently encompasses 24 tokens falling under the potential securities category.
Amidst this evolving regulatory landscape, the stance of Gary Gensler, the Chair of the SEC, that the majority of crypto assets should be treated as securities, has led to discussions about the potential oversight of nearly all of the 25,500+ cryptocurrencies listed on platforms like CoinMarketCap.