California Gov. Gavin Newsom bans public officials from launching memecoins, takes aim at Trump

California Governor Gavin Newsom signed a ban preventing public officials from launching memecoins, part of a package targeting corruption. He also signed bills setting clearer rules for restitution when investors lose money in crypto scams. The move takes aim at President Trump's $TRUMP token, though Newsom framed it as an anti-corruption measure.