New York State Department of Financial Services Issues Virtual Currency Advertising and Marketing Guidelines

On November 13, according to an announcement by the New York State Department of Financial Services, the agency has issued guidance on cryptocurrency advertising and marketing, requiring regulated entities to develop and implement related policies and procedures, which must be reviewed and approved by the board of directors or a designated committee at least annually. Policies and procedures that comply with the guidance must be made available for regulatory review beginning May 12, 2027.

The guidance mandates that marketing content be truthful and verifiable, prohibiting false or misleading statements regarding performance or regulatory status, and requires that risk and other relevant information be clearly and conspicuously disclosed. Institutions must also establish a marketing material review and approval process, conduct due diligence and monitoring of third-party promoters, and promptly address unauthorized use of branding.