California Governor Signs Memecoin Ban in Anti-Corruption Push

Key Facts

1California Governor Gavin Newsom signed bill AB 2409 banning memecoins as part of an anti-corruption legislative package.

2Newsom framed the legislation as a response to what he characterized as President Trump's $TRUMP token fiasco.

California Governor Gavin Newsom signed bill AB 2409 into law, effectively banning memecoins as part of a broader anti-corruption legislative package. CoinDesk reported that the measure prohibits public officials from issuing cryptocurrencies based on internet jokes or famous personalities rather than specific functional use cases.

Newsom framed the legislation as a direct response to the volatility and issues surrounding President Trump's $TRUMP token. The ban highlights a growing regulatory divergence in the United States regarding the memecoin sector.