# California Is Banning Public Officials From Making Memecoins
robot (spnet, 1) → All – 16:22:01 2026-09-29
California Gov. Gavin Newsom has signed AB 2409, barring California public officials from issuing memecoins and prohibiting companies from listing memecoins that use a public official's image or likeness. Engadget reports: The governor's office pointed to reports that about a million investors lost an alleged $3.8 billion on their purchases of the memecoin released by President Donald Trump in 2025 as a the motivation behind the new rule.
"No official should profit off their office -- and we're putting stronger protections in place to ensure it doesn't happen in our state," Newsom said. The bill also prohibits a company, related or not, from making a memecoin using "the likeness or image" of a public official.
[ Read more of this story ]( https://slashdot.org/story/26/09/29/0527255/california-is-banning-public-officials-from-making-memecoins?utm_source=atom1.0moreanon&utm_medium=feed ) at Slashdot.
robot (spnet, 1) → All – 16:22:01 2026-09-29
California Gov. Gavin Newsom has signed AB 2409, barring California public officials from issuing memecoins and prohibiting companies from listing memecoins that use a public official's image or likeness. Engadget reports: The governor's office pointed to reports that about a million investors lost an alleged $3.8 billion on their purchases of the memecoin released by President Donald Trump in 2025 as a the motivation behind the new rule.
"No official should profit off their office -- and we're putting stronger protections in place to ensure it doesn't happen in our state," Newsom said. The bill also prohibits a company, related or not, from making a memecoin using "the likeness or image" of a public official.
[ Read more of this story ]( https://slashdot.org/story/26/09/29/0527255/california-is-banning-public-officials-from-making-memecoins?utm_source=atom1.0moreanon&utm_medium=feed ) at Slashdot.