GoKawiilNewsom signs law barring California officials from launching memecoins
Governor Gavin Newsom signed legislation prohibiting California's elected officials from issuing memecoins, a cryptocurrency category built around jokes, trends or celebrity personas. The law also bars any company from creating a memecoin using an official's likeness or image, regardless of the official's involvement. Newsom's office cited reports that roughly one million investors lost about $3.8 billion buying the memecoin President Trump launched in 2025 as reasoning for the measure.
GoKawiil's interpretation of the reporting above, not reported fact.
The move signals states may increasingly step in to regulate conflicts of interest around crypto tokens tied to public figures, especially as federal oversight of memecoins remains limited. Newsom's framing suggests California is positioning itself as a leader on crypto consumer protection, following other recent bills addressing fraud recovery and asset seizure from criminal networks. It could also set a template other states reference when writing similar restrictions on officials profiting from digital assets.
- California now bans elected officials from issuing memecoins tied to their name or image.
- The law extends to third-party companies using an official's likeness for a memecoin.
- Newsom cited an estimated $3.8 billion in investor losses from Trump's 2025 memecoin as justification.
Source: engadget.com — Anna Washenko, 2026-09-28
Published there as: “California is banning public officials from making memecoins”
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