- The California Senate passed Assembly Bill 2409 in a 40-0 vote, targeting memecoin issuance by public officials.
- The Assembly concurred unanimously, sending the bill to the governor for signature.
- The legislation would bar digital asset service providers from offering California residents memecoins issued on or after Jan. 1, 2027, by federal, state, or local public officials.
- Lawmakers cited conflicts of interest and “pay-to-play arrangements” as primary concerns behind the measure.
California lawmakers voted unanimously this week to restrict public officials’ involvement with memecoins, citing conflicts of interest and potential “pay-to-play arrangements.” The California Senate passed Assembly Bill 2409 in a 40-0 vote on Wednesday, according to Legiscan data, and the Assembly then concurred in a 78-0 vote.
The bill now enters the enrolled stage and awaits the governor’s signature. If enacted, it would prohibit digital asset service providers from offering California residents memecoins issued on or after Jan. 1, 2027, by federal public officials or state and local public officers. The legislation defines memecoins as digital assets whose value derives primarily from public interest, speculation, or community engagement.
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