PANews reported on October 25 that Chiliz Group, a blockchain technology developer in the sports and entertainment fields, announced that its sports fan platform Socios.com has received in-principle approval from the Malta Financial Services Authority (MFSA), according to its official blog. The MFSA approved in principle a Level 3 Virtual Financial Assets Act (VFAA) license to provide virtual financial asset (VFA) services. This allows Socios.com to operate as a regulated virtual financial asset service provider, enabling it to engage in services such as the placement of virtual financial assets.