- Project Sela, a CBDC venture, combines private sector agility with central bank oversight.
- The introduction of “Access Enablers” promises heightened competition and reinforced security.
CoinGecko, a leading cryptocurrency data aggregator, launched a new index to track digital tokens that the SEC considers securities. The SEC is suing Coinbase and Binance, which is causing regulatory scrutiny in the crypto market.
BNB and ADA are at the top
The index, “Top Alleged Securities Coins,” ranks tokens by market cap. Binance Coin (BNB) leads, followed by Cardano (ADA), Solana (SOL), and TRON. CoinGecko meticulously compiled this index from various sources and included tokens that have been sued by the SEC.
This new index launched in the first week of August, giving industry stakeholders and investors valuable insights into cryptocurrency regulation. It consolidates SEC-regulated securities tokens.
CoinGecko’s 24 tokens out of the SEC’s 68 alleged securities are notable. These tokens represent 7.5% of the crypto market. The index covers a large portion of the market’s value, demonstrating the cryptocurrency industry’s growing focus on regulatory compliance and transparency.
All cryptocurrencies except bitcoin should be regulated
SEC Chair Gary Gensler’s stance on cryptocurrencies highlights CoinGecko’s initiative. Gensler believes that most cryptocurrencies are securities and therefore subject to SEC regulation. If his view is accepted, the SEC could regulate most cryptocurrency exchange tokens.
In this regulatory environment, Coinbase, a leading cryptocurrency exchange, has challenged the SEC’s allegations. Coinbase recently filed a court motion to dismiss SEC claims. The exchange cited decades of Supreme Court precedent to deny issuing investment contracts. The industry will closely monitor this legal battle because it could set a precedent for future regulatory decisions.
As U.S. authorities and officials face pressure to establish clear and comprehensive crypto industry rules, CoinGecko’s index comes at a crucial time. The index informs stakeholders about the changing cryptocurrency market regulatory landscape, which stakeholders eagerly await. CoinGecko’s index may help investors and industry participants make informed regulatory decisions by providing transparency and data insights.
