Bill > S05473

This bill introduces new regulations for advertising virtual tokens in New York State, requiring developers and advertisers to provide clear and transparent disclosures. Specifically, the bill mandates that any advertisement involving virtual tokens must disclose the full amount and nature of financial consideration, and prohibits false, misleading, or deceptive statements about these tokens. The legislation defines "virtual token" broadly to include cryptocurrencies, digital assets, and digital tokens stored on blockchain ledgers, while explicitly excluding certain digital units like those used exclusively in online gaming platforms, customer rewards programs, or prepaid cards. The bill aims to protect consumers by ensuring that advertisements for virtual tokens provide accurate information and do not misrepresent the legal authorization to offer such financial products in New York. Advertisers who do not comply with these requirements could face legal consequences, as the bill creates clear guidelines for how virtual token advertisements must be presented to potential investors or users.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/S5473