California's Newsom signs memecoin ban and calls it 'The Opposite of Trump'
California Governor Gavin Newsom signed AB 2409, adding a ban on memecoins for state public officials to an 11-bill package on corruption, consumer protection, and cryptocurrency crime. He tied the move to criticism of President Donald Trump’s TRUMP token while his office pointed to reported buyer losses and Trump-related earnings.
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California state public officials are the people directly affected, because the new law bars them from issuing memecoins and also restricts listings that use an official’s likeness or image. That changes what they can attach their name or image to in public crypto activity, starting with the law Newsom signed.
Before this, the described conduct was available to state public officials; after the signing, issuing memecoins is barred under AB 2409. The package still sits within a wider set of bills on corruption, consumer protection, and cryptocurrency crime, so the broader policy frame remains in place.
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Where this sits in the Official Trump series
| When | What happened | Figure |
|---|---|---|
| 16 days ago | TRUMP a 2.2 $ high | today it sits -17.3 % from there |
| 8 days ago | TRUMP a 1.74 $ low | today it sits +4.6 % from there |
From what we have stored, starting 22 days ago.