California becomes first U.S. state to ban politicians from issuing, promoting memecoins

California Gov. Gavin Newsom has signed Assembly Bill 2409, which bans public officials from issuing or promoting crypto assets. The move makes California the first U.S. state to legally prohibit politicians from engaging in memecoin-linked activities. The bill strictly bars public officials from using their positions to create their own tokens or promote them for profit. It was introduced to address ethical lapses in politics and prevent investor harm, and passed with unanimous bipartisan support in both the state Senate, 40-0, and the state Assembly, 78-0.