NYDFS requires licensed crypto firms to take responsibility for ad promoters and brand impersonators

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NYDFS has issued new rules requiring licensed virtual currency entities to substantiate advertising claims, clearly disclose the licensed company behind them, and establish processes for producing, reviewing, and approving marketing materials. Companies must also vet the backgrounds of external partners, monitor for brand impersonation, and complete compliance by May 10, 2027. NYDFS also stressed that being licensed does not mean the state government endorses the relevant tokens, transactions, or returns.