๐จ CALIFORNIA JUST TOOK AIM AT POLITICAL MEME COINS.
Governor Gavin Newsom has signed AB 2409, barring covered public officials and certain public employees from issuing meme coins.
And the law goes further.
Starting January 1, 2027, crypto platforms serving California residents cannot list newly issued meme coins offered by or in partnership with covered federal, state or local public officials.
This is NOT a ban on meme coins in California.
Existing political tokens arenโt automatically wiped from exchanges.
The target is the creation and distribution of new official-linked meme coins under the lawโs definition.
But thatโs only part of Californiaโs new crypto crackdown.
Another law expands money-laundering rules to transactions involving digital assets and creates procedures allowing authorities, under court-approved warrants, to seize crypto tied to criminal activity.
It also creates a pathway for forfeited digital assets to be distributed to victims.
Newsomโs office explicitly pointed to President Donald Trumpโs meme coin when framing the legislation as an anti-corruption measure.
The bigger question now:
Will other U.S. states follow Californiaโs approach to politician-linked crypto?
Political tokens just entered a much more complicated regulatory era.
#Crypto #Bitcoin #MemeCoins #DeFi #CryptoNews
Governor Gavin Newsom has signed AB 2409, barring covered public officials and certain public employees from issuing meme coins.
And the law goes further.
Starting January 1, 2027, crypto platforms serving California residents cannot list newly issued meme coins offered by or in partnership with covered federal, state or local public officials.
This is NOT a ban on meme coins in California.
Existing political tokens arenโt automatically wiped from exchanges.
The target is the creation and distribution of new official-linked meme coins under the lawโs definition.
But thatโs only part of Californiaโs new crypto crackdown.
Another law expands money-laundering rules to transactions involving digital assets and creates procedures allowing authorities, under court-approved warrants, to seize crypto tied to criminal activity.
It also creates a pathway for forfeited digital assets to be distributed to victims.
Newsomโs office explicitly pointed to President Donald Trumpโs meme coin when framing the legislation as an anti-corruption measure.
The bigger question now:
Will other U.S. states follow Californiaโs approach to politician-linked crypto?
Political tokens just entered a much more complicated regulatory era.
#Crypto #Bitcoin #MemeCoins #DeFi #CryptoNews
