New York DFS Issues Crypto Advertising and Marketing Guidance, Requiring Licensed Institutions to Comply by May Next Year

Nov. 13 — According to an announcement from the New York State Department of Financial Services (NYDFS), the regulator has issued advertising and marketing guidance for licensed virtual currency entities, requiring them to update their advertising and marketing policies and procedures by May 10, 2027, review them at least annually, and retain records for inspection. The guidance requires marketing content to be evidence-based and verifiable, prohibits exaggeration of performance or regulatory status, mandates clear and prominent disclosures, and requires institutions to establish a review process for marketing materials, conduct due diligence on third-party promoters, and promptly address brand impersonation.