California Legislature Passes Bill Banning Public Officials From Issuing Meme Coins

California could restrict access to meme coins tied to government officials under legislation that cleared the state legislature and is headed to the governor for consideration.

Under AB 2409, digital asset service providers would be barred from listing certain newly issued meme coins for California residents beginning Jan. 1, 2027. The restriction would apply to meme coins offered by federal, state, or local public officials, as well as those launched in partnership with them.

Separately, the bill would prohibit public officials and public employees from issuing meme coins themselves.

After lawmakers passed AB 2409, the bill entered the enrolled stage.

Source: LegiScan