Digital assets: meme coins.
Vote required
Majority
Fiscal committee
No
Appropriation
No
Current location
Passed
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill prohibits California public officials and employees from issuing meme coins and prevents digital asset service providers in California from listing or selling meme coins featuring the likeness of federal or state public officials. It establishes definitions for key terms like ‘digital asset,’ ‘meme coin,’ and ‘public employee’ and authorizes the Attorney General and local district attorneys to take legal action to enforce these prohibitions.
Key provisions
- Prohibits public officers and employees from issuing meme coins.
- Restricts digital asset service providers from listing or selling meme coins featuring public officials.
- Defines ‘meme coin’ as a digital asset inspired by internet memes or trends.
- Defines ‘public employee’ and ‘public officer’ for the purposes of the law.
- Authorizes the Attorney General and local district attorneys to pursue civil actions for injunctive relief and disgorgement.
Who is affected
- California public officials
- California public employees
- Digital asset service providers operating in California
- California residents
- Federal public officials
Notable changes
- Creates specific prohibitions against issuing and selling meme coins by public officials and digital asset service providers.
Bill text
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Sponsors
Official sponsors from legislative records.
1 on record
Primary sponsor
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