Key Points
- Coingecko has introduced a tracking list of the top alleged coins by the US SEC to be securities.
- The list spans 48 coins and is expected to grow as the authorities keep cracking down on the crypto space.
The new index by Coingecko tracks the biggest crypto assets that the US SEC sees as securities despite there not being a binding crypto regulatory framework in the country. Binance’s CoinMarketCap is also tracking a similar list.
CMC and Coingecko shed light on More coins as SEC sharpens its radar
Coingecko has Joined CoinMarketCap to introduce an index that tracks the crypto assets the US SEC has labeled ‘securities.’ Starting on Monday, Coingecko will be showing the performance of the coins and adding to the list in case the US SEC decides to declare more assets as securities.
The US SEC has been on a hunt since 2020, intensifying its efforts and asking for bigger budgets from the US government to ‘flush’ out bad actors from the US markets. In the process, it labeled assets like XRP, BNB, Cardano, and Solana as securities.
As such, it expects the issuers of these coins to follow securities laws when trading them in the US. It also expects investors and exchanges that trade these assets to be vigilant and do as the law requires. As a result, these coins have been experiencing shaky markets every once the regulator uses them in a major crypto lawsuit.
Due to the price fluctuation, on-chain data platforms CoinMarketCap and Coingecko have decided to add the coins in separate lists from the others so investors can view and use the data for better investment strategies.
Keep watching Fintech Express for updates on this and other fintech-related developments.