On Tuesday, we reported that Binance signed a sponsorship and fan token deal with the Argentine Football Association (Asociación del Fútbol Argentino AFA). However, the AFA already has an agreement with Chiliz / Socios and a fan token was issued last year. Last night Socios announced that a commercial tribunal issued an injunction ordering the AFA and Torneos y Competencias to recognize the Socios agreements.
Legally, we believe this is an arbitration, a private ruling as opposed to a decision in a court of law. Usually, this sort of international dispute would be arbitrated by the International Chamber of Commerce. We’ve requested confirmation from Socios.
Socios says the ruling orders the AFA not to take actions that would hamper Socios’ exclusive rights.
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