California Governor Gavin Newsom signed legislation barring public officials from issuing memecoins and prohibiting companies from using officials' likenesses in such coins. The rules were motivated by reports of roughly one million investors losing an alleged $3.8 billion on a 2025 presidential memecoin.
Public officials are prohibited from issuing memecoins, which are cryptocurrencies based on online jokes, trends or celebrities.
The bill also prohibits any company from creating a memecoin that uses the likeness or image of a public official.
Tap a lens to see what this story means for you.
Liked this? The Brief brings you the whole day in tech, verified, every morning.
Two minutes, free forever. What's in The Brief →
See what’s happening right now
The Feed runs all day — short, verified briefs the moment they break.
Open the FeedFollow @thecircuitry_
Every story we publish, as it happens. No noise between.
Reader-supported
The Circuitry is a passion project I've always wanted to build, and I love the work behind it.
Running it costs real money. APIs, hosting, time. To keep improving the site and growing this into something useful for everyone, those costs have to be covered.
Any contribution is appreciated. If not, no pressure. Thanks for reading.
The US Treasury published a proposed rule on October 22, 2026 to implement the COINS Act, widening limits on US investment in sensitive tech in countries of concern. Separately, DHS ordered DeepSeek products excluded and removed from federal civilian agency systems. The Treasury rule is not final; comments are due December 7.
CoinTelegraph reports on a proposed US accounting change for stablecoins, an FSB letter warning G20 officials about stablecoin oversight gaps and AI risks, and XRP Ledger developers defending a September emergency patch that bypassed the usual vote.
Discount Bank says customers can buy and sell Bitcoin and ether in its app from November 26, 2026, without an outside wallet. The in-app commission is 2%. Custody fees are waived for six months, then 0.25% a quarter.
Tether says KPMG U.S. issued an unqualified opinion on the 2025 statements of TG Commodities, the issuer of Tether Gold. At December 31, 2025, the gold on the books matched the tokens in issue.
Metaplanet secured approval for a 93.7% stake in Super League, USD1 lost over $400 million in market cap, and Qubic reportedly paused after an about $1.4 million exploit.
