California signs into law restrictions banning public officers from issuing crypto meme coins

California Gov. Gavin Newsom signed AB 2409 on Sept. 27, setting two restrictions on political meme coins. Covered California public officers and certain government employees will be barred from issuing them. Digital asset service providers face a separate limit on listing new official-linked coins for California residents.The enrolled bill makes an official's role central to both provisions. Its listing clause covers a coin offered by or in partnership with a federal public official or a state or local public officer, provided the coin was issued on or after Jan. 1, 2027. The January 1 date is a threshold for which newly issued coins fall under the provider listing rule.For the direct issuance ban, a California public officer includes elected and appointed state or local officers, legislators and members of government boards or commissions. Membership on a body with only advisory powers still falls within the definition. The employee category reaches state and local government workers with decisionmaking authority over procurement offers and contracts for their employer. An advisory-board appointee can fall within the officer category; an employee's coverage depends on the contrac...