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Socios News

Clarification to media coverage following CMS Select Committee report

There has been a lot of media coverage following the CMS Select Committee report published earlier this week and we wanted to clarify important information. 

As we posted in our response on the 11 October, we want to make it clear that all crypto assets, including Fan Tokens are not regulated in the UK. It is the promotion of Fan Tokens that is subject to new regulatory restrictions and supervised by the FCA. 

We want to clarify on record that crypto assets, including Fan Tokens, remain unregulated in the UK. They are  not regulated investments and we were not insinuating that the FCA in any way regulates or endorses them. 

Original response posted 11 October can be found here: https://www.socios.com/response-to-cms-select-committee-report-on-nfts-and-blockchain/

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© Copyright 2018 – 2024. All rights reserved. Mediarex Enterprises Limited and its subsidiaries.

All images relating to the app on the site are for information purposes and may not reflect the final graphics of the product.

Fan Tokens are the utility tokens of Socios.com, created on Chiliz Chain – The Sports Blockchain. They are paired against Chiliz tokens ($CHZ) on the Socios.com platform and may be obtained thereon. Before using crypto-assets (tokens), consider that: a) their value can go down or up; b) they are not regulated in most countries; c) you may have to pay taxes on any profits made from their sale.

Socios Services Baltics UAB, registered in Lithuania with entity code 306098470, operates the Socios.com app and the Chiliz wallet, whilst Socios Technologies AG, registered in Switzerland, with registration number CHE-219.335.797 is the issuer of the Fan Tokens.

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