California legislation bans public officials from issuing meme coins, Governor Newsom specifically criticizes Trump's personal meme coin TRUMP.

BlockBeats news, September 28: California Governor Newsom signed multiple bills on September 27, with measures including: prohibiting California public officials from issuing meme coins, while also banning trading platforms from listing meme coins that use the likeness of public officials; cracking down on cryptocurrency fraud and money laundering, and establishing a victim compensation mechanism; clarifying the procedures for the confiscation of crypto assets from transnational criminal networks.

In his signing statement, Newsom specifically criticized Trump's personal meme coin TRUMP issued in 2025, stating that nearly 1 million buyers have collectively lost more than $3 billion, while Trump himself profited about $636 million.