CoinGecko introduces "SEC Security Tokens" category to help you filter which are securities!

The cryptocurrency data provider CoinGecko recently launched a new feature that allows users to view cryptocurrencies that the U.S. Securities and Exchange Commission (SEC) has deemed as securities. These cryptocurrencies have a total market capitalization exceeding $91.2 billion, accounting for approximately 7.56% of the total cryptocurrency market capitalization. Additionally, the SEC's lawsuits against the crypto industry continue, with an announcement that they will be paying out $105 million to whistleblowers.

CoinGecko Releases "SEC Securities Tokens" Category

The CoinGecko team has announced that the category was launched in the first week of August, selecting some of the more well-known tokens that have been mentioned by the SEC in past litigations and deemed as securities, allowing holders to track their prices in real-time.

Ranked by market capitalization, the list includes tokens such as Binance Coin (BNB), Cardano (ADA), Solana (SOL), TRON (TRX), and Polygon (MATIC), among others, some of whose teams have expressed dissatisfaction and criticism when faced with SEC allegations.

Recap: Three Ways Polygon (MATIC), Solana (SOL), and Cardano (ADA) Responded to Securities Allegations

However, the category currently only filters out 24 tokens, which is still fewer than the 68 cryptocurrencies that the SEC already considers as securities. Nevertheless, with the total market cap of the cryptocurrency market at $1.2 trillion, the coverage of this category stands at 7.56%.

Definition of Securities Remains Ambiguous

Additionally, SEC Chairman Gary Gensler has strongly expressed in an interview with New York Magazine that "all digital currencies except for Bitcoin are securities."

Apart from Bitcoin, in other projects, you can find websites or entrepreneurs who establish corporate entities or foundations in tax havens to promote tokens and attract investors in various complex and ambiguous illegal ways. Overall, these tokens are actually securities.

He pointed out that the core issue lies in the formation of a group between the project team and ordinary investors, where people expect to profit through the efforts of these intermediaries, which he explains is a component of securities.

If the regulatory framework eventually moves in the direction as described by Gensler, then over 25,000 cryptocurrencies listed on CoinGecko will be subject to regulation.

SEC Whistleblower Program Still Ongoing

On August 4th, the SEC announced that it had provided over $104 million in rewards to seven whistleblowers to thank them for their roles in SEC enforcement actions and the information and assistance they provided. This demonstrates that the SEC's crackdown on crypto companies is far from over.

Reportedly, the reward amount is the fourth-largest in the history of the SEC Whistleblower Program. The seven whistleblowers received rewards ranging from 10% to 30% of the fines in the case by providing documentary evidence of illegal activities, agreeing to interviews, and identifying potential witnesses, in recognition of their contributions.