Memecoins: California Adopts a Law Banning Their Issuance by Public Officials

California's Bill AB 2409, led by Avelino Valencia, bans public officials from issuing memecoins and digital assets. The Senate adopted it on August 26, and the Assembly unanimously validated amendments. The bill now awaits final formalities and review by Governor Gavin Newsom, targeting token issuance by individuals exercising public authority in California.