California Legislature Passes Bill Prohibiting Public Officials from Issuing Meme Coins

On May 27, the California State Assembly unanimously passed the meme coin regulation bill 'AB2409' with a vote of 77 in favor and none against. The bill was subsequently approved by the Senate, and on August 26, the Assembly agreed to the Senate's amendments, thus passing it through both chambers. It now moves to Governor Newsom's desk for his signature. The bill targets elected and appointed officials at state and local levels, legislators, advisory body members, and public servants with authority over bidding and contracting...