CaliforniaCalifornia would bar officials from issuing meme coins
Public officers and certain government employees would be barred from issuing meme coins, while providers could not list some official-linked coins for California residents.
What it does
State and local officers, and government employees who decide bids or contracts, would be barred from issuing meme coins. Issuing includes making one available for purchase, donation, or exchange.
Digital asset service providers could not list certain meme coins for California residents when a federal, state, or local public officer offers the coin or partners in its offering.
The Attorney General could sue to enforce either ban and seek an order to stop violations or repayment of gains. Local prosecutors and county counsel could enforce only the ban on officials and covered employees issuing coins.
Argument forThese limits could reduce chances for public officials to profit from meme coins or connect official influence with their sale.
Argument againstProviders might stop offering some meme coins to California residents if they are linked to public officials, limiting residents’ access to those assets.
More detail
A public officer or covered public employee would be barred from issuing a meme coin. This covers state and local elected or appointed officers, including legislators and members of government boards, and state or local employees with authority over their entity’s bids and contracts.
A digital asset service provider would be barred from listing certain meme coins for California residents. This applies to listings for sale on behalf of, or for purchase by, a California resident. A meme coin is a digital asset whose main appeal and value come from public interest, speculation, or community interest in topics such as memes, public figures, or social trends. The coin must be offered by, or in partnership with, a federal public official or a state or local public officer. This restriction applies to meme coins issued on or after January 1, 2027.
The Attorney General could seek a court order to stop violations and ask the court to require repayment of gains; local prosecutors and county counsel could enforce the ban on public officers and employees issuing meme coins. The Attorney General may seek enforcement of either prohibition. A district attorney, city attorney, or county counsel may enforce only the ban on public officers and employees issuing meme coins.
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Where it stands
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Sep 27Chaptered by Secretary of State - Chapter 473, Statutes of 2026.Latest
- Sep 27Approved by the Governor Gavin Newsom.Became Law
- Sep 3Enrolled and presented to the Governor at 4 p.m.To Governor
- Aug 26Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 78. Noes 0. Page 6645.).Major
- Vote recorded AB 2409 Valencia Concurrence in Senate Amendments. Result: pass.Lower
- Vote recorded 3rd Reading AB2409 Valencia By McNerney. Result: pass.Upper
- Aug 26In Assembly. Concurrence in Senate amendments pending.
- Aug 26Read third time. Passed. Ordered to the Assembly. (Ayes 40. Noes 0.).Passed Senate
- Aug 24Read second time. Ordered to third reading.Minor
- Aug 21Read third time and amended. Ordered to second reading.Major
- Aug 4Read second time. Ordered to third reading.Minor
- Aug 3From committee: Be ordered to second reading pursuant to Senate Rule 28.8.Minor
- Jul 2Read second time and amended. Re-referred to Com. on APPR.Major
- Jul 1From committee: Amend, and do pass as amended and re-refer to Com. on APPR. (Ayes 13. Noes 0.) (June 30).Major
- Jun 30
- Vote recorded Do pass as amended, but first amend, and re-refer to the Committee on [Appropriations]. Result: pass.Upper
- Jun 18From committee chair, with author's amendments: Amend, and re-refer to committee. Read second time, amended, and re-referred to Com. on JUD.Major
- Jun 10Referred to Com. on JUD.Minor
- May 28In Senate. Read first time. To Com. on RLS. for assignment.Minor
- Vote recorded AB 2409 Valencia Assembly Third Reading. Result: pass.Lower
- May 27Read third time. Passed. Ordered to the Senate. (Ayes 77. Noes 0. Page 5483.)Passed Assembly
- May 19Read second time. Ordered to third reading.Minor
- May 18Read second time and amended. Ordered returned to second reading.Major
- May 14From committee: Amend, and do pass as amended. (Ayes 11. Noes 0.) (May 14).Major
- Vote recorded Do pass as amended. Result: pass.Lower
- May 6In committee: Set, first hearing. Referred to APPR. suspense file.Minor
- Apr 21From committee: Do pass and re-refer to Com. on APPR. (Ayes 9. Noes 0.) (April 20). Re-referred to Com. on APPR.Minor
- Apr 20Re-referred to Com. on B. & F.Minor
- Vote recorded Do pass and be re-referred to the Committee on [Appropriations]. Result: pass.Lower
- Apr 16Read second time and amended.Major
- Apr 15From committee: Amend, and do pass as amended and re-refer to Com. on B. & F. (Ayes 12. Noes 0.) (April 14).Major
- Apr 14
- Vote recorded Do pass as amended and be re-referred to the Committee on [Banking and Finance]. Result: pass.Lower
- Apr 9Re-referred to Com. on JUD.Minor
- Apr 8From committee chair, with author's amendments: Amend, and re-refer to Com. on JUD. Read second time and amended.Major
- Mar 26Re-referred to Coms. on JUD. and B. & F. pursuant to Assembly Rule 96.Minor
- Mar 9Referred to Coms. on B. & F. and JUD.Minor
- Feb 21From printer. May be heard in committee March 23.
- Feb 20Read first time. To print.Introduced
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