California legislature passes bill banning public officials from issuing memecoins

A California bill banning public officials and public agency employees from issuing memecoins has passed both chambers of the state legislature. AB 2409 bars public officials and public agency employees from issuing memecoins and, starting Jan. 1, 2027, would also prohibit listing memecoins issued by them for California residents. The bill still requires the governor’s signature to take effect.