CAL.Regulation
California bars public officers from issuing meme coins and restricts official-linked listings
Governor Gavin Newsom signed AB 2409 on September 27, 2026. It bars state and local public officers, and public employees with bid or contract decision authority, from issuing meme coins. Digital asset service providers may not list, for California residents, meme coins issued on or after January 1, 2027 that are offered by or with a federal official or a state or local officer. The Attorney General, district attorneys, city attorneys and county counsel may sue for injunctions and disgorgement.
Enrolled text (California Legislative Information) → · Office of the Governor
Key points
- "Meme coin" means a digital asset marketed or recognized on memes, public figures, or trends and valued mainly on speculation.California Legislative Information
- "Public officer" covers state and local elected or appointed officers, including legislators; covered employees are those with bid or contract decision authority.California Legislative Information
- The listing ban applies only to meme coins issued on or after January 1, 2027 and offered by or in partnership with a public official.California Legislative Information
- The Attorney General may seek injunctions and disgorgement; district attorneys, city attorneys, and county counsel may enforce the issuance ban.California Legislative Information
- Newsom's release framed the package as opposing corruption and self-dealing, citing investor losses on President Trump's meme coin.Office of the Governor
- The bill adds Government Code sections 7599.210–7599.211; it is a non-urgency measure effective January 1, 2027, with a chapter number still pending on LegInfo.California Legislative Information
Sources3 articles across 2 outlets
California Legislative Information
Office of the Governor
Filed under
RegulationCal.AB 2409 — Digital assets: meme coinsComplianceFinancial servicesFor practitionersFor governance