California Governor Gavin Newsom has signed legislation barring state and local public officials from issuing meme coins. The bill, which specifically targets politician-linked tokens, passed unanimously through the Senate 40-0 and the Assembly 78-0. The law applies a broad definition of meme coins covering digital assets associated with internet memes, public figures, celebrities, fictional characters, and online humor. Digital asset service providers will be prohibited from offering California residents meme coins issued on or after January 1, 2027, though existing tokens like Dogecoin are not affected. This legislation aims to prevent conflicts of interest, pay-to-play arrangements, and foreign influence risks associated with pseudonymous blockchain transactions.
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