California's Newsom signs memecoin ban and calls it 'The Opposite of Trump'
California Governor Gavin Newsom signed a law banning public officials from issuing memecoins, framing the move as a direct contrast to Donald Trump's involvement in cryptocurrency. The legislation is part of a broader package aimed at curbing corruption and protecting consumers from crypto-related scams.
Why it matters
This highlights the growing legislative friction between state-level regulation and the intersection of politics and speculative digital assets.
President Donald Trump has made millions from memecoins, but politicians in California don't have that chance anymore.
On Sunday, California's Governor Gavin Newsom signed a law that bans the state's public officials from issuing memecoins, or cryptocurrencies representing a famous personality, internet joke or viral trend rather than a specific use case.
The measure, AB 2409, was signed along with 10 other bills on corruption and consumer protection. Others set rules for paying back crypto scam victims and creating a legal process to seize crypto from transnational criminal networks.
Newsom's office titled the announcement "THE OPPOSITE OF TRUMP," accusing the Trump administration of corruption and self-dealing, including through the viral $TRUMP memecoin.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in