6 hours ago
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Key Takeaways
- Governor Gavin Newsom signed AB 2409 on September 27.
- AB 2409 prohibits covered officials from issuing meme coins.
- The platform rule begins on January 1, 2027.
- Existing political tokens are not automatically delisted.
- Violations can lead to court orders and profit recovery.
The law targets officials, then future listings
Governor Gavin Newsom signed Assembly Bill 2409 on September 27. The measure prohibits California public officers and certain public employees from issuing meme coins.
Its platform provision starts on January 1, 2027. From then, a digital-asset service provider may not offer a qualifying meme coin to a California resident when the coin was issued on or after that date and is offered by, or in partnership with, a federal, state or local public official.
This is not a statewide ban on meme-coin trading. Californians can still buy and sell tokens...
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