Chiliz (CHZ) Meets with the U.S. Securities and Exchange Commission to Discuss a Potential Re-entry into the U.S. Market

According to an 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.

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.

The Digital Chamber, Zuber Lawler LLP, and Chiliz (CHZ), were among the participants in the Apr. 22 meeting, according to an SEC log published on the agency’s website.

The company presented a draft no-action letter to address concerns regarding the legal classification of its fan tokens and outlined a plan to re-enter the U.S. with an investment of $50 million to $100 million.

It 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 highlighted its global partnerships with major clubs such as FC Barcelona, Paris Saint-Germain, AC Milan, and Arsenal. It also disclosed that it previously had agreements with 13 NFL and 27 NBA teams, which were put on hold due to regulatory uncertainty.

According to reports, NBA and NFL teams are considering launching fan tokens if the regulatory landscape becomes clearer.

Chiliz had to exit the U.S. in early 2023, citing a lack of clarity regarding the legal status of its fan tokens and the company’s operations. However, its plans to return align with a leadership transition at the SEC and a shift in the agency's stance on digital assets.

The newly appointed SEC Chair Paul Atkins, a crypto supporter, is expected to push for clearer digital assets regulations. His predecessor, acting chair Mark Uyeda, had already begun rolling back the agency's enforcement actions.

After a period of heightened scrutiny, the SEC dropped lawsuits against Gemini and Kraken cryptocurrency exchange, as well as Immutable (IMX) and Uniswap (UNI).

Despite expanding international alliances, Chiliz has faced major challenges in the market. Its native token CHZ has dropped 67% over the past year, currently trading at $0.11, as per crypto.news price tracker. Its total value locked dropped 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.