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Political memecoins like TRUMP and DJT are testing California’s cryptocurrency regulatory framework. Governor Gavin Newsom has even joked about launching a ‘Trump Corruption Coin’ in response. These tokens thrive on political narratives rather than utility, creating unique challenges for regulators.
- Political memecoins derive value from narrative and election cycle sentiment rather than technical utility
- Platforms like Pump.fun have dramatically lowered barriers to token creation, enabling thousands of short-lived political tokens
- California regulators are grappling with how to apply existing crypto rules to these politically-themed speculative assets
📎 Related coverage from: cointelegraph.com