Cryptocurrency data aggregator CoinGecko has taken a bold step to tackle the insecure regulatory landscape surrounding digital assets in the United States by launching a new index for crypto tokens alleged as SEC securities, with a collective market capitalization of $91.5 billion. Reportedly, the new segment compiles tokens that have previously been subject to SEC-related lawsuits and this index currently comprises of
24 such tokens, with Binance Coin (BNB) leading the race. Other notable tokens such as Cardano (ADA), Solana (SOL) and Tron (TRX) also feature in the list.
This initiative to formulate respective categories on CoinGecko’s platform has been spurred by the need for clarity and guidance during the ever-changing arena of cryptocurrency debates. To add to that, fellow market tracking site CoinMarketCap has also made such modifications to its database; a specific section offers all actionable data for coins that have been identified under suspicion by the United States Securities and Exchange Commission. This kind of sector-based tracking measures enables investors to tally up the conversion and make smarter decisions within an ever-military fluid market.
Ripple’s XRP, which recently faced objections from regulatory commissioners, has been stated ‘ineligible’ for this index due to its rate and means of distribution. Nonetheless, the storm that continues to rage about the cryptocurrency domain has potentially alerted and engaged a wider audience; academics, technologists, and the legislative to keep up with the myriad of changes.
Henceforth, CoinGecko’s commitment to highlighting the plight of ‘alleged’ securities tokens and its importance in the flourishing trading on digital assets landscape condones the industry’s dedication to smoothen the navigation process in these highly contentious affairs.
