A new index being tracked by CoinGecko tracks the largest cryptocurrency tokens that the US Securities and Exchange Commission believes are probably securities.

According to a CoinGecko representative, the index was introduced in the first week of August and was created by gathering a number of the most well-known tokens that the SEC had previously designated securities in court cases.

The financial authority increased the total number of tokens it considers securities to 68 in its most recent litigation against the two largest cryptocurrency exchanges, Coinbase and Binance, whereas CoinGecko only includes 24.

The biggest tokens covered by the SEC's litigated remit of the cryptocurrency industry account for at least $84.9 billion of the market, according to CoinGecko's page.

Gary Gensler, the chairman of the Securities and Exchange Commission (SEC), has gone to considerable pains to clarify that the vast majority of cryptocurrency assets should be regarded as securities.

Gensler had previously asserted that "everything other than Bitcoin" is a security and is therefore subject to the authority of the agency.

Sources:

https://cointelegraph.com/news/coingecko-adds-index-crypto-deemed-securities