California Governor Signs Law Banning Officials from Issuing Meme Coins
California Governor Gavin Newsom has signed new legislation prohibiting state and local public officials from issuing meme coins. The bill, which passed the California Senate 40-0 and the Assembly 78-0, defines public officers broadly to include elected and appointed officials, legislators, and members of government boards. The law also bans digital asset service providers from offering California residents meme coins issued on or after January 1, 2027. This measure aims to prevent conflicts of interest, "pay-to-play" arrangements, and foreign influence, though it does not outlaw existing tokens like Dogecoin or constitute a statewide meme coin ban.
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