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New York State Department of Financial Services, Guidance on Prevention of Market Manipulation and Other Wrongful Activity (Feb. 7, 2018) (full-text).


This guidance reminds all virtual currency business entities licensed under 23 NYCRR Part 200 or chartered as limited purpose trust companies under the New York Banking Law (collectively, "VC Entities") to implement measures designed to effectively detect, prevent and respond to fraud, attempted fraud and similar wrongdoing, and be vigilant against efforts at market manipulation. The Guidance applies to all VC Entities, including those that also hold a New York money transmitter license.