Assembly BillChaptered/SignedGovernment
AB 2409: Digital assets: meme coins.
What AB 2409 does, verified September 29, 2026
<p>The bill prohibits public officers and certain employees from issuing meme coins. It defines "public officer" as state or local elected/appointed officials including legislators and members of governmental advisory bodies, and "public employee" as those with decision-making authority over bids and contracts for their entity.</p> <p>It also bans businesses operating digital asset exchanges from listing meme coins featuring federal, state, or local public officials for sale to California residents. The bill mandates the Attorney General to enforce these rules through civil actions seeking injunctive relief and disgorgement, while allowing district attorneys, city attorneys, and county counsels to enforce against such businesses.</p>
Bill journey
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6ChapteredCurrent
Last action: Chaptered by Secretary of State - Chapter 473, Statutes of 2026. (2026-09-27)Alert me
Author and sponsors
Full contact details, staff, and committees with Connect, $16/moUnlockRecent actions31 total · showing 5
| Sep. 27, 2026 | Chaptered by Secretary of State - Chapter 473, Statutes of 2026. |
| Sep. 27, 2026 | Approved by the Governor. |
| Sep. 03, 2026 | Enrolled and presented to the Governor at 4 p.m. |
| Aug. 26, 2026 | Senate amendments concurred in. To Engrossing and Enrolling. (Ayes 78. Noes 0. Page 6645.). |
| Aug. 26, 2026 | In Assembly. Concurrence in Senate amendments pending. |
Latest bill textChaptered version, September 27, 2026 · 855 words
Assembly Bill No. 2409
CHAPTER 473
An act to add Chapter 37 (commencing with Section 7599.210) to Division 7 of Title 1 of the Government Code, relating to digital assets.
[ Approved by Governor September 27, 2026. Filed with Secretary of State September 27, 2026. ]
LEGISLATIVE COUNSEL'S DIGEST
AB 2409, Valencia. Digital assets: meme coins.
Existing law prohibits a state officer or employee from engaging in any employment, activity, or enterprise that is clearly inconsistent, incompatible, in conflict with, or inimical to their duties. Existing law also prohibits specified local agency officers or employees from engaging in any employment, activity, or enterprise for compensation that is inconsistent, incompatible, or in conflict with, or inimical to, their duties, as specified.
This bill would prohibit a public officer or public employee, as those terms are defined, from issuing a meme coin. The bill would prohibit a digital asset service provider, as defined, from listing for sale on behalf of, or for purchase by, a California resident a meme coin issued on or after January 1, 2027, that is offered by, or in partnership with, a federal public official or a state or local public officer.
This bill would authorize the Attorney General, a district attorney, city attorney, or county counsel to enforce these prohibitions by filing a civil action, as specified.
The people of the State of California do enact as follows:
SECTION 1.
The Legislature finds and declares all of the following:(a) Public officials must not use the authority entrusted to them for private financial gain.
(b) When public officials issue or promote financial instruments, it undermines public confidence in government, creates opportunities for conflicts of interest and pay-to-play arrangements, and risks exploitation and corrupt foreign influence.
(c) Public office is a public trust that must be exercised solely for the benefit of the people of California.
SEC. 2.
Chapter 37 (commencing with Section 7599.210) is added to Division 7 of Title 1 of the Government Code, to read:CHAPTER 37. Prohibited Digital Financial Transactions
7599.210.
For purposes of this chapter, the following definitions apply:(a) “Digital asset” means a digital representation of value recorded on a cryptographically secured, distributed ledger, including a blockchain or similar technology, including, but not limited to, a digital financial asset, a stablecoin, or a token, including a fungible or nonfungible token.
(b) “Digital asset service provider” has the same meaning as set forth in Section 5901 of Title 12 of the United States Code.
(c) “Digital financial asset” has the same meaning as defined in paragraph (1) of subdivision (g) of Section 3102 of the Financial Code.
(d) “Federal public official” includes, but is not limited to, both of the following:
(1) A federal elected or appointed officer.
(2) An elected or appointed member of a federal governmental board, commission, committee, or other body, including a federal governmental body that has only advisory powers.
(e) “Issue” means to make available for public purchase, donation, or exchange of any value, whether promoted or not.
(f) “Meme coin” means a type of digital asset that is marketed or recognized primarily based on its association with internet memes, public figures, fictional characters, animal cultural phenomenon, current events, shared humor, celebrities, noteworthy people or events, or social trends, and whose value is derived primarily from public interest, speculation, or community engagement.
(g) “Nonfungible token” means a unique digital representation of an asset, an object, the rights of the holder, or any other item, whether tangible or not, that is built on an existing blockchain.
(h) “Public employee” means an employee of a state or a local government entity who has decisionmaking authority over bids and contracts for that entity.
(i) “Public officer” includes, but is not limited to, both of the following:
(1) A state or local elected or appointed officer, including a Member of the Legislature.
(2) An elected or appointed member of a governmental board, commission, committee, or other body, including a governmental body that has only advisory powers.
(j) “Stablecoin” has the same meaning as defined in paragraph (3) of subdivision (b) of Section 3601 of the Financial Code.
(k) “Token” means a digital representation of an asset, object, rights of the holder, or any other item, whether tangible or not, that is built on an existing blockchain.
7599.211.
(a) A public officer or public employee shall not issue a meme coin.(b) A digital asset service provider shall not list for sale on behalf of, or for purchase by, a California resident a meme coin issued on or after January 1, 2027, that is offered by, or in partnership with, a federal public official or a state or local public officer.
(c) (1) This section may be enforced through a civil action brought by the Attorney General for injunctive relief. The Attorney General may also include a claim for disgorgement and the court shall have jurisdiction to grant that relief.
(2) A district attorney, city attorney, or county counsel may bring a civil action to enforce subdivision (a) and shall have the same rights as an Attorney General to seek an injunction and include a claim for disgorgement.
Text of AB 2409 as chaptered, from the official record. Connect Plus keeps every version and highlights what changed.Compare versions