California Governor Gavin Newsom signed AB 2409 barring public officials in the state from issuing meme coins. The legislation also prohibits digital asset platforms from listing certain meme coins issued by or in partnership with federal, state or local public officials. Authored by Assemblymember Avelino Valencia, the law takes effect for tokens issued after January 1, 2027 and grants the California attorney general authority to bring civil actions. The measure comes after President Trump disclosed over $1.2 billion in crypto-related earnings for the previous year, including more than $635 million attributed to his Solana-based TRUMP meme coin. Governor Newsom also signed SB 1208 expanding California’s money laundering laws to cover digital asset transactions.
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