According to NYDFS guidance published on November 12, licensed cryptocurrency firms in New York must update their advertising and marketing policies by May 10, 2027, with documentation available for regulatory review starting May 12. Acting Superintendent Kaitlin Asrow required three baseline duties: firms must substantiate all ad claims, identify the licensed entity behind each advertisement, and establish internal approval workflows for marketing content.

The directive follows mounting fraud data. The FTC reported Americans lost $3.5 billion to imposter scams in 2025, with over $2.1 billion of losses occurring through social media. FINRA found approximately 70% of roughly 500 retail crypto communications it reviewed may have violated fair-and-balanced standards. The new guidance applies to BitLicense holders and New York trust companies authorized to offer digital asset services.

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