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California Bans Public Officials From Issuing Memecoins

Original: California Is Banning Public Officials From Making Memecoins ｢ The state's public officials are not permitted to issue m

California has moved to bar public officials from issuing memecoins, the joke-based cryptocurrencies that often surge and crash on hype. The governor's office cited reports that around a million investors lost money in such schemes. The move comes amid heightened scrutiny of celebrity and political figures profiting from speculative crypto tokens.

Why now: Ongoing backlash over politicians and celebrities launching memecoins that cost retail investors heavily.

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Evidence

• California Is Banning Public Officials From Making Memecoins ｢ The state's public officials are not permitted to issue memecoins, a form of cryptocurrency based on online jokes, trends or celebrities. The governor's office pointed to reports that about a million investors lost… · jbz@indieweb.social · 7

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