California2026-09-28 06:21:52California bars public officials from issuing memecoins as Newsom targets TrumpCalifornia Governor Gavin Newsom has signed AB 2409, a new law that bars the state’s public officials from issuing memecoins. The measure was enacted as part of an 11-bill package focused on corruption, consumer protection and cryptocurrency-related crime. Newsom’s office framed the signing in explicitly political terms, using the phrase “THE OPPOSITE OF TRUMP” and tying the law to criticism of President Donald Trump and the $TRUMP token. In a press release, Newsom said public officials should not profit from their office and said California was tightening protections to prevent that from happening in the state. The report also notes that it remains unclear whether the ban applies to memecoins already in circulation, including $TRUMP. CoinDesk said Trump’s office did not immediately respond to a request for comment. The article also revisits the trading history of $TRUMP, including its rapid rise, steep collapse, holder losses tracked by Nansen, Trump’s disclosed royalty income, and the share of token supply held by Trump Organization affiliates.480
California2026-09-28 00:53:15California signs AB 2409 to ban public officials from issuing meme coinsCalifornia Governor Gavin Newsom signed AB 2409 on Sept. 27, creating what the state describes as the first explicit ban on public officials issuing meme coins. The law bars California public officials from creating, issuing, or promoting such tokens, and also restricts crypto platforms from listing meme coins that use the likeness or image of public officials. Introduced in February by Assemblymember Avelino Valencia, the bill passed unanimously in both chambers of the state legislature, 40-0 in the Senate and 78-0 in the Assembly, and is set to take effect on Jan. 1, 2027. The governor’s office framed the move in direct contrast to Donald Trump, even using the phrase "The opposite of Trump!" in its press release. That release said Trump’s 2025 meme coin caused nearly 1 million buyers to lose more than $3 billion, while Trump himself made about $636 million. Those figures were attributed by the original report to the California governor’s office. Newsom said no public official should profit from public office and called the bill part of a broader effort to strengthen safeguards. Newsom also signed SB 1208 the same day. That measure, introduced by State Senator Tim Grayson, targets digital asset money laundering, strengthens seizure tools for crypto assets tied to criminal groups, and creates a compensation mechanism for victims of crypto scams.440
California2026-08-28 19:05:35California AB 2409 Passes Both Chambers, Targets Public-Official MemecoinsCalifornia's AB 2409, a bill aimed at memecoins involving public officials, has passed both chambers of the state Legislature and is awaiting the governor's signature. The measure would regulate meme coins issued by public officeholders or launched in cooperation with them, establishing a legal framework for such token offerings if enacted. Techub News reported, citing Cointelegraph.920
California2026-08-28 12:09:48California Senate passes bill restricting public officials’ memecoinsCalifornia lawmakers have advanced Assembly Bill 2409, a measure aimed at limiting public officials’ involvement in memecoins and restricting how those tokens can be offered to residents in the state. The bill passed the California Senate by a 40-0 vote on Wednesday, according to Legiscan, and the Assembly later voted 78-0 to concur with the Senate’s amendments. It has now entered the enrolled stage and is waiting for the governor’s signature. Under the bill, digital asset service providers would be barred from offering California residents any memecoins issued on or after Jan. 1, 2027, if those tokens are offered by, or in partnership with, federal public officials or state or local public officers. The legislation defines memecoins as digital assets whose value comes mainly from public attention, speculation, or community engagement. Lawmakers tied the proposal to concerns over conflicts of interest and what the bill describes as “pay-to-play arrangements.” The report also points to the Official Trump (TRUMP) token as a live example in the broader debate. Public Citizen said investors tied to the token are estimated to be $3.2 billion underwater, mostly on an unrealized basis. CoinMarketCap data cited in the report shows TRUMP with a $688 million market capitalization, up 53% over the past week after falling 67% over the past year.990
California2026-08-28 07:51:54California meme coin bill clears both chambers and heads to governorA California bill aimed at regulating meme coins has passed both the state Assembly and Senate, according to Bitcoin.com News, as cited by ChainCatcher. The measure would bar public officials and employees from issuing meme coins. It also sets a restriction starting Jan. 1, 2027, prohibiting the listing of such tokens for California residents. The bill, identified as AB 2409, has now been sent to the governor for signature. The report centers on the bill’s legislative progress and the specific restrictions included in the text cited in the brief. No additional implementation details were provided in the source beyond the passage in both chambers, the ban on issuance by public officials and employees, the 2027 effective date for the listing restriction targeting California residents, and the bill’s current status before the governor.890
California2026-08-27 17:26:55California AB 2409 clears legislature, would restrict officials from meme coin activityCalifornia’s AB 2409 has passed both the state Assembly and Senate and is now awaiting the governor’s approval, according to Techub News, citing CoinPedia. The bill would bar public officials from issuing meme coins. It also sets a Jan. 1, 2027 restriction on offering meme coin purchases to California residents unless the service is provided by a specifically authorized entity. The measure is aimed at limiting public officials’ involvement in meme coin-related activity and reducing potential conflicts of interest and fraud risks. If signed by the governor, California would become the first U.S. state to impose a clear ban on public officials participating in meme coin activity.970
