California Politicians Won’t Be Able to Launch Meme Coins. Newsom Just Signed the Ban
Governor Gavin Newsom signed Assembly Bill (AB) 2409 on September 27, barring California public officers from issuing meme cash.
The legislation additionally stops crypto platforms from promoting Californians new meme cash tied to public officers. Newsom’s workplace pitched the bundle as a distinction to President Donald Trump’s personal token.
Who AB 2409 Puts Off-Limits
Assemblymember Avelino Valencia, a Democrat from Anaheim, launched the bill in February. The Senate handed it 40-0 in August, and the Assembly then authorized the last model 78-0.
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The ban covers state and native elected or appointed officers, together with legislators and advisory board members. It additionally reaches public staff with decision-making energy over bids and contracts.
Platforms face a separate restrict from January 1, 2027. They can not promote Californians new meme cash provided by, or with, federal, state, or native officers.
According to a Senate Judiciary Committee analysis, the cutoff retains older cash comparable to Official Trump (TRUMP) on exchanges. As a outcome, earlier patrons can nonetheless promote if a value spike helps them get well losses.
The Attorney General can sue for an injunction and disgorgement. District attorneys, metropolis attorneys, and county counsel can also implement the ban on officers.
Newsom linked the signing immediately to Trump in the announcement.
“While the rip-off that’s Donald Trump continues to damage American households, California is combating to make our financial system work for individuals, not the highly effective,” he said.
From the White House to Bangui
California’s ban follows a number of meme cash launched or promoted by nationwide leaders and a former mayor. Each token misplaced most of its worth after its debut.
Trump launched TRUMP in January 2025, three days earlier than his second inauguration. Newsom’s workplace pointed to a July report by The New York Times on Official Trump (TRUMP).
Nearly 1 million individuals purchased the token and have since misplaced greater than $3 billion. Trump himself profited by roughly $636 million, the report discovered. TRUMP traded at $2.09 at press time, down 97.2% from its report high, per BeInCrypto Markets information.
Meanwhile, Central African Republic President Faustin-Archange Touadéra launched Central African Republic Meme (CAR) in February 2025. He known as it an experiment to unite individuals and lift the nation’s profile. Market information confirmed the token down 99% from its all-time high.
Former New York City Mayor Eric Adams unveiled NYC Token (NYC) in Times Square in January 2026. It neared a $600 million valuation before crashing about 80%.
Argentine President Javier Milei drew similar scrutiny in February 2025 after selling the LIBRA token, which collapsed shortly afterward.
Meme Coins Join California’s Growing List of Off-Limits Bets
None of these earlier cash fall below AB 2409. However, its itemizing rule does cowl federal officers. The legislation extends earlier ethics steps by the Newsom administration.
California officers have already got to disclose their crypto holdings. In March, Newsom additionally barred Governor’s Office appointees from utilizing nonpublic data to revenue on prediction markets.
Washington has moved in an identical route. In April, the US Senate handed a resolution banning senators from buying and selling on prediction markets.
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The submit California Politicians Won’t Be Able to Launch Meme Coins. Newsom Just Signed the Ban appeared first on BeInCrypto.
