United States of America: Adopted Guidance Regarding Customer Service Requests and Complaints

On 30 May 2024, the New York State Department of Financial Services adopted its guidance regarding customer service requests and complaints. The guidance is addressed to Virtual Currency Entities (VCEs) regarding the resolution of customer service requests and complaints. VCEs must address these in a timely and fair manner. The guidance outlines expectations for customer service mechanisms, including phone and electronic text communication, and emphasises the importance of providing detailed information and assistance tailored to the customer's issue. It also includes provisions for keeping customers informed, addressing issues with artificial intelligence tools, and providing proactive customer service during both planned and unplanned events. The Department of Financial Services requires VCEs to track and analyse customer service requests and complaints, solicit feedback, and report relevant information to the Department.