Chiliz (CHZ), one of the once popular altcoins, is planning to re-enter the US market.
Sports and entertainment-focused cryptocurrency project Chiliz (CHZ), which has withdrawn from the US market, recently met with the US Securities and Exchange Commission (SEC).
According to an official statement, Chiliz, which has addressed the regulatory uncertainty regarding fan tokens with the SEC, plans to re-enter the US market in time for the 2026 FIFA World Cup.
At this point, Chiliz is expected to return to the US market with a planned investment of between $50 million and $100 million for the 2026 World Cup.
The meeting also noted that NBA and NFL teams are interested in issuing fan tokens if regulations are made clearer. Chiliz and the SEC also discussed why a fan token should not be classified as a security.
While the meeting with the SEC was held yesterday, April 22, on the same day, Chiliz CEO Alexandre Dreyfus shared a photo with White House Cryptocurrency Advisory Council chairman Bo Hines on X, signaling that a second meeting would be held with White House officials.
Chiliz made a strategic decision to exit the US market in 2022 due to regulatory uncertainty and the FTX collapse.
Chiliz (CHZ) price rose by up to 10% on the back of the overall positive market sentiment and news of the meeting with the SEC.
*This is not investment advice.
