New York A00391 mandates disclosures by developers of virtual tokens in advertisements and restricts certain advertising practices.
New York A00391 amends the financial services law by adding a new section 410. This section requires developers of virtual tokens to disclose specific information in advertisements involving such tokens. It prohibits any misleading or deceptive statements about the legality of offering virtual tokens in New York or to New York residents. The bill also restricts advertising that implies a person is legally authorized to offer or provide virtual tokens or other financial products or services. The act takes effect immediately upon enactment.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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