California Governor Gavin Newsom signed Assembly Bill 2409 on September 27, making California the first U.S. state to explicitly bar public officials from creating or promoting their own meme coins. The bill passed unanimously through both chambers, with a 40-0 vote in the Senate and a 78-0 vote in the Assembly. The law covers state and local elected officials, legislators, advisory board members, and public employees with contracting authority. Digital asset service providers are also prohibited from listing any meme coins tied to public officials. The law takes effect January 1, 2027, with civil-only enforcement mechanisms including injunctions and disgorgement of profits, with no criminal penalties.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
