Chiliz, a SportsFi company, has met with the United States Securities and Exchange Commission (SEC) to discuss an investment and reentry into the US crypto market under the

According to the meeting document, Chiliz discussed the proposed structure of a fan token and why “it should not be classified as a security.” Broadly, a security is an investment wherein the investor expects a profit due to the efforts of someone other than the investor.

Whether cryptocurrencies and related assets are securities

According to the meeting document, Chiliz discussed the proposed structure of a fan token and why “it should not be classified as a security.” Broadly, a security is an investment wherein the investor expects a profit due to the efforts of someone other than the investor.

Whether cryptocurrencies and related assets are securities

Its governance token hasn’t fared particularly well either. According to CoinMarketCap, the Chiliz (CHZ) token price has declined 67% over the past 12 months. The company is known for its fan tokens, which allow enthusiasts to own the official cryptocurrencies of their favorite sports clubs.

The company has made headway into the soccer market, partnering with Football Club Barcelona, Paris Saint-Germain, and Manchester City, among others.

Related: FIFA launches NFT collection amid 2023 Club World Cup

Chiliz invested $80 million in partnerships within the US market in 2021, the document shows. However, regulatory uncertainty and the fallout from FTX’s collapse led to a “strategic exit” in the following year.

The next World Cup is expected to take place in June 2026. The United States will be the main host of the tournament, while Canada and Mexico will act as auxiliary hosts.

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