(Sacramento, CA) — California now bans state and local officials from creating or promoting meme coins, which are digital cryptocurrency tokens tied to internet jokes or personalities. The law stops elected officials, government leaders, and public employees from creating or endorsing meme coins linked to their job or image. Starting in 2027, crypto platforms also […]
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California Bans State And Local Officials From Creating Or Promoting Meme Coins
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(Sacramento, CA) — California now bans state and local officials from creating or promoting meme coins, which are digital cryptocurrency tokens tied to internet jokes or personalities. The law stops elected officials, government leaders, and public employees from creating or endorsing meme coins linked to their job or image. Starting in 2027, crypto platforms also can’t sell meme coins to Californians. Violators can face legal action and lose any profits. The law aims to stop public officials from using their influence to profit from crypto. Governor Newsom cited recent high-profile meme coins, like one tied to President Trump, as a reason for the law.