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.