The fan engagement platform Socios.com of Chiliz Group received a Class 3 Virtual Financial Assets Act (VFAA) license from the Malta Financial Services Authority (MFSA) after meeting key requirements by the end of 2024. Previously, Socios.com had obtained in principle approval in October 2024 and was listed as a regulated Virtual Financial Assets (VFA) service provider under the Maltese legal framework. This license is aligned with the upcoming Markets in Crypto-Assets (MiCA) regulation, which is set to be implemented in phases across Europe. Socios.com will now operate more freely in the EU and will transition its VFA authorization into a MiCA-compliant license, paving the way for broader expansion.