CoinGecko adds token category: “Alleged SEC Securities”

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The source of crypto data now has an index that takes into account the decisions of the US Securities and Exchange Commission

CoinGecko, the aggregated crypto data platform, has added a new token category: “Alleged SEC Securities.” These are all those tokens that the US Securities and Exchange Commission is considering as securities. 

CoinGecko and the new token category: “Alleged SEC Security”

The independent crypto data aggregator CoinGecko has launched a new category of tokens: “Alleged SEC Securities.” 

Basically, this is a new index that tracks the major crypto assets that the US Securities and Exchange Commission (or SEC), considers to be securities

The ranking of alleged crypto securities goes by market capitalization. At the time of writing, there are Binance Coin (BNB), Cardano (ADA), Solana (SOL) on the podium

CoinGecko also shows the total market cap of this category, and the increases/decreases in volume over the past 24 hours. 

And indeed, under the SEC’s eye there is a crypto market cap of over $91 billion, which is up a total of 8.2% from yesterday

Moreover, as of today, the total list has as many as 48 crypto assets that, according to CoinGecko’s index, could be securities. 

CoinGecko and Security Tokens: the data platform wants to be updated

This decision by CoinGecko, reflects how important the issue of security tokens has become not only for the US SEC, but for the entire market. 

In fact, by security tokens is meant a financial product from which investors expect a financial return, linked primarily to the performance of the company that issues them. 

And indeed, after the indictments of crypto-exchange giants Binance and Coinbase in early summer, the US SEC had begun to get serious about registration regulations. Not surprisingly, the regulator had already prepared a list of tokens defining them as securities, bringing charges against the two giants for selling these unauthorized securities. 

The list already included SOL, ADA, MATIC, FIL, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH and NEXO. 

The consequence is that many cryptocurrency exchanges, such as Robinhood, had to revise their offerings so as not to get caught up in the grips of the SEC. 

In this regard, Coinbase recently expressed that it will file a court order to completely dismiss the lawsuit filed against it by the SEC, namely a total dismissal of the case. 

XRP is not on the list

Looking again at CoinGecko’s list of “alleged SEC securities,” one can easily see that Ripple (XRP) is not on it

Indeed, on 13 July 2023, the never-ending Ripple vs SEC case ended with a decision by US District Judge Analisa Torres that XRP is not a security

This ruling seemed to be the revolution of the entire crypto industry, but instead it was only a small victory. 

On that note, the price of XRP, which had skyrocketed from $0.47 to $0.81 on the day of the ruling, dragging the other major crypto assets into a bull run as well, also seems not to be holding up. At the time of writing, the crypto that won against the SEC, XRP, is worth $0.61.