public officials

California

2026-08-28 19:05:35

California AB 2409 Passes Both Chambers, Targets Public-Official Memecoins

California'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.

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California

2026-08-28 12:09:48

California Senate passes bill restricting public officials’ memecoins

California 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.

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California

2026-08-27 17:26:55

California AB 2409 clears legislature, would restrict officials from meme coin activity

California’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.

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