Socios.com Restricts Access to US Users Amidst Speculation of Regulation

US users see temporary restrictions but Socios could be cooking up a new site to boost the fan experience to a new level.

By
Kyle Heise
on
October 3, 2021
Category:
Blockchain News

Restrictions for US Users

Effective October 1, Socios.com has turned off key features for users within the United States. Users from the US will no longer be able to trade Fan tokens or top-up and deposit the Chilliz token $CHZ.

The adjustments are supposed to be temporary. Socios.com confirmed in an email sent to US residents the same day as the ban that they are working to launch a platform to optimize the US fan experience. 

“We regret to inform you that we have had to turn off select features for US users temporarily while we work to launch a more tailored US-facing platform experience,” the email read. “This will take effect on or before October 1st 2021.”

Socios.com had an impressive Summer expanding into the United States market. They ran a successful seven-day NBA partnership spree and also brought in several more teams, including the Golden State Warriors. Socios.com continues to be one of the most prominent names in the cross-over of blockchain and real-world sports.


Source

With so many recent partnerships over the summer within US jurisdiction, Socios.com may be preparing to launch a site that will allow more robust token trading. A US franchise can also potentially lead to the launch of fan tokens of US-based teams, so far something has been lacking from Socios.com.

The news freezes the options for US fans but hopefully will lead to a greater fan experience.


About Chillz

Chiliz is a payment and cryptocurrency platform, used primarily by sports teams, for blockchain-powered services and products. The model targets mainstream consumers with their $CHZ – the digital currency for sports and entertainment. Chillz first minted tokens in 2018 and is the exclusive currency used on the Socios.com platform.

Follow Chillz:

Website | Twitter | Medium | Discord |


About Socios

Socios.com is the official crypto wallet and trading platform for some of the biggest sports teams in the world. The site is an innovative fan engagement platform that was created for the Chiliz blockchain. The Socios platform provides the owners of the fan tokens with access to voting rights in polls, VIP rewards, exclusive club, and sponsor promotions, AR-enabled features, chat forums, games, and competitions.

Follow Socios:

Website | Twitter | Instagram |

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Kyle Heise

Born and raised in the East Bay of California. He has studied and worked on three continents and lived in eight countries. Kyle resides in San Francisco. He holds bags mostly in Ethererum, Cake, and BSC GameFi projects.

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