California restricts officials’ memecoin activity
A new California law bars public officials from issuing memecoins and companies from using an official’s likeness or image to create one.
California Governor Gavin Newsom has signed legislation restricting public officials from issuing memecoins, cryptocurrencies tied to online jokes, trends or celebrities.
The law also bars companies, whether related to an official or not, from creating a memecoin using a public official’s likeness or image.
Newsom’s office cited reports that about one million investors allegedly lost $3.8 billion on Donald Trump’s 2025 memecoin. The reported figures were presented as the rationale for the legislation.
“No official should profit off their office,” Newsom said, according to Engadget, which reported the signing.
California has also recently established processes to help crypto fraud victims recover money and set out an approach for seizing crypto assets from transnational criminal networks.
