Sports-focused crypto platform Chiliz has met with the U.S. Securities and Exchange Commission to discuss a potential re-entry into the U.S. market ahead of the 2026 FIFA World Cup.
According to a SEC log published on the agency’s website, Chiliz (CHZ), The Digital Chamber, and Zuber Lawler LLP were among the participants in the Apr. 22 meeting. Chiliz presented a draft no-action letter to address concerns regarding the legal classification of fan tokens and outlined a plan to re-enter the U.S. with an investment of $50 million to $100 million.
The company argued that its tokens, used for fan engagement through voting rights, exclusive rewards, and more, should not be considered securities. Representatives also sought regulatory guidance on how to proceed. “Our mission is to enable fan engagement through blockchain-based Fan Tokens,” the letter stated.
The company emphasized its global reach, with partnerships with major clubs including FC Barcelona, Paris Saint-Germain, AC Milan, and Arsenal. Additionally, it revealed that it had previously had agreements with 13 NFL and 27 NBA teams, but those agreements were put on hold because of regulatory uncertainty.
According to reports, NBA and NFL teams are considering launching fan tokens if regulatory uncertainty is resolved. Chiliz exited the U.S. in early 2023, citing a lack of regulatory clarity.
Its plans to return now aligns with a leadership transition at the SEC. Paul Atkins, the newly appointed SEC Chair and a crypto supporter, is expected to advocate for clearer digital assets regulations. His predecessor, acting chair Mark Uyeda, had already begun rolling back enforcement actions, dropping lawsuits against Gemini, Kraken, Immutable (IMX), and Uniswap (UNI).
Despite expanding international alliances, Chiliz’s market performance has faced major challenges. Its native token CHZ is down 67% over the past year, as per crypto.news price tracker. Its total value locked dropping from $17 million in December to just $6.8 million, according to DefiLlama data. A possible re-entry into the U.S. market could act as a major catalyst that could boost token performance in the short to long to mid-term.
