Coingecko released a new index that tracks important tokens that the US Securities and Exchange Commission deems as securities.
The platform’s “Top Alleged Securities Coins” arranges the tokens on the page according to their total market capitalization.
The SEC and Chair Gary Gensler have made it clear, on several occasions, that the regulating body under Gensler’s leadership only supports the development and trade of Bitcoin, Ethereum, Bitcoin Cash, and Litecoin within the crypto market.
This stance has not only led to the SEC suing several crypto companies for allegedly trading in unregistered securities (i.e. tokens the SEC refuses to see as commodities) but also has negatively impacted the pricing and availability of tokens such as ADA and SOL which were removed from several exchanges due to the fact.
In its filing against Coinbase and Binance, the SEC named SOL, ADA, MATIC, SAND, AXS, Chiliz (CHZ), Flow (FLOW), Internet Computer, Near, Voyager Token, BNB, Binance USD, Cosmos, Nexo, Decentraland, and COTI as tokens that were traded as ‘unregistered securities’.
One of the most significant lawsuits filed by the SEC is one against Terraform Labs, in which the regulating body claims that the company traded in unregistered securities in the form of Terra Luna Classic (LUNC), Terra Classic USD (USTC), Mirror Protocol (MIR), as well as estimated 13 Mirrored Assets (mAssets) that aimed to copy the price of stocks such as Apple and Tesla.
And, of course, most notably, Ripple’s XRP is still seen by the SEC as a security despite the company’s triumph against the SEC after two years of litigation.
Here’s a full list of the crypto tokens deemed by the SEC as securities: