In addition to Chiliz, the meeting with the regulator on April 22 was attended by the cryptolobbit company The Digital Chamber and the legal company Zuber Lawler LLP. Chiliz introduced a draft letter of non-reckoning measures to resolve issues related to the legal classification of fan-Tokenes, and also outlined a plan for the second entry into the US market with investments in the range from $ 50 million to $ 100 million.
Chiliz claims that its tokens used to interact with sports lovers through votes and exclusive rewards should not be considered securities. Chiliz also requested a guide from the regulator for further actions.
The company emphasized that it collaborates with large football clubs Barcelona, ​​Paris Saint-Germain, Manchester City, Milan and Arsenal. Earlier, Chiliz entered into agreements with 13 teams of the National Football League (NFL) and 27 teams of the National Basketball Association (NBA). However, these agreements were suspended due to uncertainty in the regulation of cryptocurrencies. For the same reason, at the beginning of 2023, Chiliz left the United States.
Despite the expansion of international alliances, over the past year, its own Chiliz (CHZ) token has fallen by 67%. Now the market capitalization of token is $ 391.1 million, and the daily bidding is $ 64.5 million. CHZ token is traded at $ 0.04103. A second US market can be a strong catalyst for CHZ growth in both the short and long term.
Last year, a former employee of Chiliz filed a lawsuit against her, accusing the management of CHZ tokens in the amount of $ 10 million, which the company promised him as compensation.
Source: Bits
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