Chiliz, a pioneer company in the SportsFi field and owner of the Socios.com fan token platform, recently had an official meeting with the US Securities and Exchange Commission (SEC) to prepare for re-entering the US crypto market before the 2026 World Cup. In the meeting held on 22/4/2025, Chiliz proposed an investment of 50 to 100 million USD in the US market, while clarifying the development direction of fan tokens, which the company believes should not be classified as securities.
The meeting took place in a context where the current US administration is considered more friendly to the cryptocurrency industry. CEO Alexandre Dreyfus even shared an image of working with Bo Hines, Digital Assets Advisory Council Director of the Trump Administration, showing that Chiliz is actively approaching policy-making agencies to promote a clearer legal framework for digital assets.
Chiliz previously withdrew from the US market in 2022 due to legal uncertainties and the FTX collapse. However, the company is planning to return in 2026, when the US will host the FIFA World Cup. Previously, in 2021, Chiliz spent 80 million USD to collaborate with sports clubs and leagues in the US, including NBA and NFL – two leagues reportedly interested in deploying fan tokens if appropriate regulations are in place.
Despite having relationships with top clubs like Barcelona, PSG, and Manchester City, the Chiliz ecosystem is facing challenges with Total Value Locked (TVL) dropping 63.5%, from 17.8 million USD to 6.5 million USD in the past 5 months, according to defillama. The CHZ token price has also sharply declined by 67% in a year, reflecting the challenges the project is facing in the market.
Chiliz emphasizes that their fan token structure should not be considered securities, as its nature is a social interaction tool rather than an investment for profit. This is a crucial point in the dialogue with SEC to build a clearer and more favorable legal framework for Web3 products in the US.
With the upcoming 2026 World Cup and expectations that the US will issue more transparent crypto regulations, Chiliz hopes to lead the wave of large-scale fan token adoption, paving the way for a SportsFi explosion in this key market. If an agreement is reached with the regulatory body, the plan to re-enter the US market will mark a significant turning point in Chiliz's global expansion strategy.
