Cryptoeconomics

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Legislature

California State Legislature

The two-house legislature of the State of California, a 40-member Senate and an 80-member Assembly, which passed AB 2409 without a dissenting vote in August 2026, barring state and local officials from issuing memecoins and platforms from listing official-backed ones for Californians.

Kind Legislature
Jurisdiction United States
Stories filed 1

The profile

Article IV of the California Constitution vests the legislative power of the state in the California Legislature, "which consists of the Senate and Assembly, but the people reserve to themselves the powers of initiative and referendum". The Senate has 40 members elected for four-year terms, half of them every two years, and the Assembly 80 elected for two, and no one may serve more than 12 years across the two houses. A bill passes only on a recorded roll call with a majority of the membership of each house, must be published online in its final form for 72 hours before the vote, and becomes a statute when the Governor signs it or does not return it in time; a veto is overridden by two-thirds of each house. A statute enacted at a regular session takes effect on the 1 January following a 90-day period from enactment. In the 2025-26 session it passed AB 2409, which bars state and local officers, and employees with authority over bids and contracts, from issuing a memecoin and bars digital asset service providers from listing for Californians a memecoin issued from 1 January 2027 that is offered by or with a public official, and SB 1208, which extends the crime of money laundering to digital assets and creates a warrant and forfeiture procedure for them. The Governor announced both as signed on 27 September 2026.

Frameworks and functions

AB 2409, Digital assets: meme coins
Adds Government Code sections 7599.210 and 7599.211: no public officer or public employee may issue a memecoin, and no digital asset service provider, as defined in the GENIUS Act, may list for a Californian an official-backed memecoin issued on or after 1 January 2027. Enforced by civil action for injunction and disgorgement.
SB 1208, Money laundering: digital assets
Until 1 January 2032, extends money laundering to transactions using digital assets and lets police and prosecutors seize them on a warrant naming the exchanges, custodians or addresses and the amount, with forfeiture proceedings within 180 days and distribution to victims.

Coverage

Developments in which California State Legislature is a named party, newest first.

On the record

California signs AB 2409, barring state and local officials from issuing memecoins

The bill bars state and local public officers, and employees with authority over bids and contracts, from issuing a memecoin, and bars digital asset service providers from listing for Californians a memecoin issued from 1 January 2027 that is offered by or with any public official. Enforcement is civil. It passed the Senate 40 to 0 and the Assembly 78 to 0.

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