California Enacts Ban on Meme Coin Issuance Starting 2027

California Governor Gavin Newsom signed Assembly Bill 2409, introduced by Assemblyman Avelino Valencia, on September 27, 2026, to ban the issuance of meme coins. The law mandates that exchanges implement geofencing filters by 2027 or face the confiscation of revenue. While the measure targets political monetization—following controversies like the $TRUMP token which saw over $3 billion in trading volume—it does not apply retroactively. Existing assets, including $TRUMP and tokens associated with Melania Trump, remain exempt from the ban and can continue to be traded.