California Governor Signs Bill Banning Public Officials from Issuing meme Coins
2026-09-28 03:04:18
According to CoinMeta, California Governor Gavin Newsom signed a bill that prohibits state and local public officials from issuing meme tokens. The bill explicitly bans tokens associated with politicians and was passed by the California Senate with a vote of 40-0 and the House of Representatives with a vote of 78-0 before it finally reached Newsom's desk. The "public officials" defined in the bill include elected and appointed state and local officials, members of legislative bodies, as well as members of government committees. The definition of meme tokens in the bill is relatively broad, covering digital assets related to internet meme, public figures, celebrities, fictional characters, current events, and online humor. Notably, digital asset service providers will be prohibited from offering meme tokens issued after January 1, 2027, to California residents. California legislators stated that financial instruments issued or promoted by government officials may lead to conflicts of interest, opportunities for "paid participation," and risks of foreign influence. The new law provides for civil rather than criminal enforcement, allowing the California Attorney General to seek injunctions to stop such violations.
Bullish 0
Bearish 0
Source:U.Today
This content is for market information only and does not constitute investment advice.