California Gov. Gavin Newsom Signs Law Banning Public Officials From Issuing Memecoins
California Gov. Gavin Newsom has signed a law prohibiting public officials from issuing memecoins, according to Cointelegraph. The law also bars crypto companies from offering certain memecoins tied to public officials to California residents, Cointelegraph reported. It applies to tokens issued starting Jan. 1, 2027.
According to CoinDesk, Newsom described the measure as “the opposite of Trump” when he signed it. The Block reported that the bill takes aim at Trump, without detailing further how the law references him.
The Block also reported that Newsom signed several other bills alongside the memecoin measure, including one meant to set clearer rules for restitution when investors lose money in crypto scams.
Sources: Cointelegraph, CoinDesk, The Block
This article is for information only and is not financial advice.
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