California Bans Memecoins Citing Investor Protection

California Governor Gavin Newsom has signed a bill banning memecoins in the state. The new law aims to regulate digital assets that are deemed to be 'illegitimate' or 'unregistered'. This move by California comes as part of an effort to protect investors from potential financial losses.

The governor's office released a statement saying, 'This is the opposite of what President Trump would do.' The bill was signed into law on [date] and will go into effect 90 days later.