NBC: The NFL will now let teams seek limited blockchain sponsorships, but cryptocurrency promotion remains banned

[China]

The NFL will now let teams seek limited blockchain sponsorships, but cryptocurrency promotion remains banned

 

The National Football League, in a memo issued Tuesday, granted teams limited permission to seek blockchain sponsorships, a partial reversal from late last summer, as the technology grows in popularity among the organization’s fans and athletes.

 

The league said it made the decision to allow “promotional relationships without undertaking excessive regulator or brand risk” after it completed an evaluation of the technology. The updated team guidelines, which are subject to the NFL’s approval, exclude stadium signage. For now, restrictions remain in place for specific cryptocurrencies and fan tokens, which can be exchanged for merchandise and experiences.

 

“Clubs will continue to be prohibited from directly promoting cryptocurrency,” the memo reads.

 

The NFL’s decision also comes after its recent lobbying push related to blockchain. CNBC reported in February that the league lobbied the Securities and Exchange Commission on “issues related to blockchain technology” from July through December 2021. The NFL also lobbied the White House and the departments of Justice and Commerce.

 

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