With the recent lawsuit against Binance, the United States Securities and Exchange Commission has already classified at least 61 cryptocurrencies as securities, which collectively amount to a $100 billion market capitalization.
The total number of cryptocurrencies that the United States Securities and Exchange Commission (SEC) considers "securities" has reached an estimated number of 61, after new tokens were added to the list following the agency's lawsuit against the cryptocurrency exchange Binance.
The 61 cryptocurrencies accused of being "securities" form a list built from various litigations undertaken by the Securities and Exchange Commission, in which the regulatory body has enumerated which cryptocurrencies it considers securities.
The largest single claim of cryptocurrencies as securities by the SEC occurred when the agency accused Terraform Labs of fraud in February.
A total of 16 crypto assets were labeled as securities at the time, including Terra Luna Classic (LUNC), Terra Classic USD (USTC), Mirror Protocol (MIR), and approximately 13 mirrored assets (mAssets) that aimed to mimic the price of stocks like Apple and Tesla.
The SEC's jurisdiction over the crypto space now covers over $100 billion in market capitalization, or approximately 10% of the total cryptocurrency market capitalization, which currently stands at around $1.09 trillion.
However, SEC Chairman Gary Gensler stated that "everything other than Bitcoin" is a security, and therefore all other cryptocurrencies would fall under the regulatory parameters of the agency. The market data website CoinMarketCap currently lists approximately 25,500 cryptocurrencies.
The SEC has now declared that the following 48 tokens are securities: XRP (XRP), Telegram's Gram (TON), LBRY Credits (LBC), OmiseGo (OMG), DASH (DASH), Algorand (ALGO), Naga (NGC), Monolith (TKN), IHT Real Estate (IHT), Power LEDGER (POWR), Kromatica (KROM), DFX Finance (DFX), Amp (AMP), Rally (RLY), Rari Governance Token (RGT), DerivaDAO (DDX), XYO Network (XYO), Liechtenstein Exchange Token (LCX), Kin (KIN), Salt Lending (SALT), Beaxy Token (BXY), DragonChain (DRGN), Tron (TRX), BitTorrent (BTT), Terra USD (UST), Luna (LUNA), Mirror Protocol (MIR), Mango (MNGO), Ducat (DUCAT), Locke (LOCKE), EthereumMax (EMAX), Hydro (HYDRO), BitConnect (BCC), Meta 1 Coin (META1), Filecoin (FIL), BNB (BNB), BINANCE USD (BUSD), Solana (SOL), Cardano (ADA), Polygon (MATIC), Cosmos (ATOM), The Sandbox (SAND), Decentraland (MANA), Axie Infinity (AXS), COTI (COTI), Paragon (PRG), and AirToken (AIR).
Additionally, the SEC has deemed the following 13 mAssets from the Mirror Protocol as securities: Mirrored Apple Inc. (mAAPL), Mirrored Amazon.com, Inc. (mAMZN), Mirrored Alibaba Group Holding Limited (mBABA), Mirrored Alphabet Inc. (mGOOGL), Mirrored Microsoft Corporation (mMSFT), Mirrored Netflix, Inc. (mNFLX), Mirrored Tesla, Inc. (mTSLA), Mirrored Twitter Inc. (mTWTR), Mirrored iShares Gold Trust (mIAU), Mirrored Invesco QQQ Trust (mQQQ), Mirrored iShares Silver Trust (mSLV), Mirrored United States Oil Fund, LP (mUSO), Mirrored ProShares VIX Short-Term Futures ETF (mVIXY).
