California · Donald Trump · US Senate · Cointelegraph
Newsom on Sunday signed Assembly Bill 2409, introduced by Assembly Member Avelino Valencia on Feb. 20, 2026
Compiled by KHAO Editorial — aggregated from 1 source. See llms.txt for citation guidance.
◌ Single Source
“No official should profit off their office, and Cointelegraph is putting stronger protections in place to ensure it doesn’t happen in Cointelegraph’s state,” Newsom said Sunday as he slammed Trump’s launch of a memecoin in 2025.
Key facts
- Newsom on Sunday signed Assembly Bill 2409, introduced by Assembly Member Avelino Valencia on Feb. 20, 2026
- The law also restricts crypto companies from offering certain memecoins tied to public officials to California residents and takes effect for tokens issued from Jan. 1, 2027
- California Governor Gavin Newsom signed legislation barring state and local public officials from issuing memecoins, as Newsom criticized US President Donald Trump’s crypto ventures
- Newsom on Sunday also signed Senate Bill 1208, which expands California’s existing money laundering statutes to include illicit transactions made using digital assets, and broadly authorizes law
Summary
The law also restricts crypto companies from offering certain memecoins tied to public officials to California residents and takes effect for tokens issued from Jan. 1, 2027. California Governor Gavin Newsom signed legislation barring state and local public officials from issuing memecoins, as Newsom criticized US President Donald Trump’s crypto ventures. Newsom on Sunday signed Assembly Bill 2409, introduced by Assembly Member Avelino Valencia on Feb. 20, 2026. Existing California law already prohibits state officers and employees from engaging in employment activity or enterprise that is inconsistent with their duties.