NYDFS issues new rules holding crypto firms liable for influencers and impostors

Kaitlin Asrow, Acting Superintendent at NYDFS, emphasized that crypto firms will now be held accountable for the actions of both influencers they contract and individuals impersonating their brands. The compliance deadline for these new requirements is May 10, 2027. VCEs are also required to conduct background checks on third-party marketing partners and to actively monitor for unauthorized use of their brand by impostors. NYDFS will review these internal policies and procedures during routine compliance examinations, and companies must refresh their policies every year. Since 2015, New York regulations have mandated that crypto firms include a “licensed by NYDFS” disclosure in advertisements, informing customers that the company is under regulatory oversight.

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