Key Takeaways:
- Governor Gavin Newsom of California signed AB 2409 to prevent the issuance of certain memecoins by the state and local public officials.
- Additionally, the law restricts digital asset companies from issuing covered “official” linked tokens to residents of California, and regulates tokens that are issued starting January 1, 2027.
- Newsom signed SB 1208, which broadened California’s legal definition of crypto-based money laundering, asset seizure and victim restitutions.
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