California Bans Public Officials From Issuing Meme Coins

California Governor Gavin Newsom has signed legislation that bans public officials from issuing meme coins in the state. The new law, Assembly Bill 2409, prohibits California public officers and covered public employees from making a token available for public purchase, donation, or exchange of value.

The bill was authored by Assemblymember Avelino Valencia and cleared the legislature without opposition. It defines issuance broadly and reaches elected and appointed officials, state legislators, and members of government boards, commissions, and committees.

Newsom framed the measure as an ethics guardrail, saying that 'No official should profit off their office.'

The law also hands California authorities new powers to pursue crypto-linked crime. It creates civil remedies rather than a new criminal offense, allowing officials to sue for injunctions and disgorgement of any profits made from prohibited tokens.