Newsom Signs Law Banning Public Officials From Launching Meme Coins in California

California Governor Gavin Newsom has signed a new law that bars public officials from issuing meme coins. The law, known as AB 2409, also prohibits crypto platforms from listing politician-linked tokens for California residents.

The legislation defines meme coins as digital assets inspired by internet memes, characters, current events, or trends. Their promoters try to build an online community that buys and trades the tokens, with prices driven by online attention and speculation.

Newsom cited President Trump's 2025 meme coin as an example of a public official profiting from their office. The governor argued that such tokens give officials a way to profit from their positions and could let special interests or foreign actors buy assets tied to government officials.