California Governor Gavin Newsom signed bill AB 2409 on September 27, prohibiting covered California public officers and employees with contracting decisionmaking authority from issuing meme coins. The law also imposes a separate restriction on digital asset service providers prohibiting the listing of official-linked meme coins issued on or after January 1, 2027 for California residents. A meme coin is defined as a digital asset whose value derives primarily from themes such as internet memes, public or fictional figures, current events or social trends. The California Attorney General may seek injunctions and disgorgement for both rules, while district attorneys, city attorneys or county counsel may enforce the direct issuance ban. The legislation was framed as a contrast to President Donald Trump’s meme coin launched in 2025.
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