California enacts law prohibiting public officials from issuing memecoins

The short version

• California Governor Gavin Newsom signed AB 2409 into law, barring state public officials from issuing memecoins to restrict profiting from their offices.[Engadget · Slashdot]
• The statute also prohibits businesses from creating or listing memecoins featuring the likeness or image of any public official.[Slashdot]
• Newsom's office cited reports alleging one million investors lost $3.8 billion on a 2025 memecoin issued by Donald Trump.[Slashdot]

Key facts

• Governor Gavin Newsom signed AB 2409, barring California public officials from issuing memecoins.[Engadget · Slashdot]
• The measure prohibits companies from listing or creating memecoins that use the image or likeness of a public official.[Engadget · Slashdot]
• The governor's office pointed to reports that roughly one million investors lost an alleged $3.8 billion on a 2025 memecoin issued by President Donald Trump.[Engadget · Slashdot]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.

• California Is Banning Public Officials From Making MemecoinsSlashdot
• California is banning public officials from making memecoinsEngadget