GSN CEO: Political Memecoins Blur Line Between Public Power and Private Profit
- —California's AB 2409, signed Sept. 27, restricts memecoins tied to public officials starting Jan. 1, 2027
- —The law bars issuance by state and local elected or appointed officers, including legislators
- —Kirkley says tokens should be judged by economic function, not by their use of blockchain rails
- —The revised CLARITY Act, reported Sept. 11, proposes federal restrictions on officials with a January 2029 sunset
Why it matters: California's precedent could give other jurisdictions a template to treat political tokens as a conflict-of-interest issue without tightening rules for the entire crypto industry.
Source: Cryptonews.net
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