New York State Department of Financial Services Releases Guidance on Virtual Currency Advertising and Marketing

TechFlow news, November 13: According to an announcement by the New York State Department of Financial Services, the agency has issued guidance on virtual currency advertising and marketing, requiring regulated entities to develop and implement relevant policies and procedures, and to have them reviewed and approved at least annually by the board of directors or a designated committee. Policies and procedures that comply with the guidance must be made available for regulatory review from May 12, 2027.

The guidance requires marketing content to be truthful and verifiable, prohibits false or misleading statements regarding performance or regulatory status, and mandates clear and prominent disclosure of risk and other information. Institutions should also establish material review and approval processes, conduct due diligence and monitoring of third-party promoters, and promptly address brand impersonation and related conduct.

Source: TechFlow