Chiliz secures legal status for fan tokens under U.S. SEC·CFTC guidance…steps up North America expansion

Chiliz, a global sports and entertainment blockchain company, said it has secured the legal status of fan tokens based on guidance from U.S. regulators.

On the 26th, Chiliz stated, “Through joint guidance issued by the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), the legal nature of Fan Tokens has been clearly defined.”

The guidance—titled “Application of Federal Securities Laws to Certain Types of Crypto Assets,” unveiled at the DC Blockchain Summit on March 17—focuses on classifying crypto assets into five categories and setting out regulatory standards for each type.

In the guidance, fan tokens are defined as a “Digital Tool” and a “Digital Collectible.” In particular, Chiliz’s platform “Socios.com” and fan tokens were cited as representative examples within those categories.

Accordingly, fan tokens were characterized as assets that offer both functional utility and collectible value, rather than being mere investment instruments. Practical benefits such as access to exclusive content and participation in voting were recognized under “Digital Tool,” while scarcity and collecting purposes were acknowledged under “Digital Collectible.”

The guidance is the result of cooperation jointly advanced by the SEC and the CFTC. Following the launch of a “Joint Staff Initiative” in September 2025, the two agencies have been working to address overlapping jurisdiction and refine the regulatory framework through “Project Crypto” in January 2026.

Chiliz said it plans to accelerate its entry into the U.S. market on the back of this regulatory clarity. The company currently operates a fan-token ecosystem based on more than 70 sports partners worldwide and millions of users, and plans to expand collaboration with U.S. sports teams and leagues going forward.

Alexandre Dreyfus, CEO of Chiliz, said, “This guidance is a case in which fan tokens have been officially recognized as assets with real utility and collectible value,” adding, “On the basis of a clear regulatory environment, we will continue to expand cooperation in the U.S. sports market.”