California Governor Gavin Newsom has signed into law a landmark piece of legislation that prohibits state and local public officials from launching or promoting memecoins, a move intended to curb potential conflicts of interest and protect retail investors from volatile digital assets. The new law, known as California Assembly Bill 2409, establishes a strict regulatory…

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Governor Gavin Newsom officially signed Assembly Bill 2409 into law on Sunday, establishing a rigorous new regulatory framework designed to prevent public officials from utilizing their offices to promote or profit from highly volatile digital assets. The legislation specifically targets "memecoins"—cryptocurrencies often characterized by their reliance on social media trends, internet culture, and speculative fervor…

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