Bill > AB2409

This bill, by adding Section 1098.5 to the Government Code, prohibits any public officer or employee from issuing a "meme coin," which is defined as a digital asset inspired by internet trends or memes that a promoter encourages people to buy and trade. The bill clarifies that a "public officer" includes state or local elected or appointed officials, including legislators and members of governmental boards or committees, even those with only advisory roles. The Attorney General is tasked with enforcing this prohibition through civil lawsuits to stop the issuance of meme coins and can also seek "disgorgement," meaning the recovery of any profits made from such an activity.

https://leginfo.legislature.ca.gov/faces/billStatusClient.xhtml?bill_id=202520260AB2409