Licensed institutions must update their marketing policies by May 10, 2027; New York State Department of Financial Services issues crypto advertising guidance

Odaily Report: The New York State Department of Financial Services has issued advertising and marketing guidance for licensed virtual currency institutions, requiring relevant institutions to update their advertising and marketing policies and procedures by May 10, 2027, and to review them at least annually while retaining records for inspection. The guidance requires that marketing content be evidence-supported and verifiable, must not exaggerate performance or regulatory status, and disclosures must be clear and prominent; institutions must also establish a review process for marketing materials, conduct due diligence on third-party promoters, and promptly address impersonation of their brands.