California Governor Gavin Newsom signed Assembly Bill 2409 on Sept. 27, barring covered public officers and employees from issuing memecoins starting Jan. 1, 2027. Authored by Assemblymember Avelino Valencia, the law also restricts digital-asset service providers from listing certain new tokens offered by or in partnership with covered federal, state or local officials. It creates civil remedies, allowing California authorities to seek injunctions and disgorgement of officials’ profits. Newsom also signed Senate Bill 1208, which extends money-laundering rules to digital-asset transactions and establishes procedures to seize, freeze and forfeit crypto linked to specified crimes, with a potential path for victims to recover funds. The governor’s office linked the package to President Donald Trump’s existing token, whose collapse left nearly 988,000 retail holders with losses exceeding $3 billion; an earlier estimate put total buyer losses at $3.81 billion through June.