California will block platforms from listing officials’ meme coins

California’s new law does more than stop public officials from issuing meme coins: it also targets the platforms that distribute them. Newly issued tokens tied to a public official’s likeness cannot be listed for California residents once the platform rules take effect.

The package is aimed at crypto fraud, self-dealing, consumer harm, and money laundering, and it adds restitution rules for victims. Gavin Newsom signed it on September 27, with the listing restrictions starting January 1, 2027.