{
  "id": 10345759,
  "title": "Newsom signs California ban on public officials issuing memecoins",
  "url": "https://urgent.news/2026/09/28/newsom-signs-california-ban-on-public-officials-issuing-memecoins",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-28T02:23:42.000Z",
  "source": {
    "name": "Cointelegraph",
    "slug": "cointelegraph",
    "url": "https://cointelegraph.com/news/newsom-signs-california-ban-on-public-officials-issuing-memecoins"
  },
  "original_language": "en",
  "account": "California Governor Gavin Newsom has signed legislation prohibiting state and local public officials from issuing memecoins, following criticism of former US President Donald Trump's crypto ventures. Assembly Bill 2409, introduced by Assembly Member Avelino Valencia, prohibits digital asset service providers from offering certain memecoins tied to public officials to California residents. The law applies to tokens issued on or after January 1, 2027. Newsom emphasized that no official should profit from their office, with the new protections aimed at preventing such practices within California. The bill also empowers California's attorney general, district attorney, city attorney, and county counsel to enforce the prohibitions through civil actions. Additionally, Newsom signed Senate Bill 1208, expanding existing money laundering statutes to include illicit transactions involving digital assets and granting law enforcement broader authority to freeze, seize, and forfeit digital assets linked to crimes.",
  "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.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}