Altcoins News
By Maheen Hernandez
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TRUMP Token's $3.2 Billion Problem. The bill didn't come out of nowhere. The Official Trump memecoin — ticker TRUMP, linked directly…
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CLARITY Act Caught in the Crossfire. Federal legislators are working on something called the Digital Asset Market Clarity Act — the…
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What the Ban Actually Does. Worth being specific about what AB 2409 covers. It targets digital asset service providers —…
4 / 15
Assembly Bill 2409 cleared the state Senate 40-0, then the Assembly 78-0 — a rare, clean sweep that left no room for doubt about where California lawmakers stand on public…
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The core of the bill is pretty simple. Digital asset service providers can't list memecoins issued by federal public officials to California residents. Done.
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The bill didn't come out of nowhere. The Official Trump memecoin — ticker TRUMP, linked directly to the sitting U.S. president — has been bleeding investors for months.
7 / 15
And yet the token recently bounced. TRUMP posted a 53% rise in recent trading, which sounds great until you remember it's still down 67% over the past year.
8 / 15
That's the backdrop California lawmakers were staring at when they wrote AB 2409. The TRUMP token's wild swings — up 53%, down 67%, unrealized losses in the billions — pretty…
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Federal legislators are working on something called the Digital Asset Market Clarity Act — the CLARITY Act — which aims to build a broader regulatory framework for digital assets…
10 / 15
More context: SpaceX Stock Rises Amid Trump’s Truth Social Mention, But Cause Remains Unclear
11 / 15
The Trump family's deep involvement in crypto has complicated the CLARITY Act's path forward.
12 / 15
The ethics questions aren't going away. California's move is partly a response to the federal vacuum — if Washington can't or won't draw clear lines around public officials and…
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Worth being specific about what AB 2409 covers. It targets digital asset service providers — exchanges, listing platforms, that kind of infrastructure — and bars them from making…
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California isn't small. It's one of the largest crypto markets in the country, and what happens there tends to ripple. If the governor signs this, other states will be watching.
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More context: Federal Reserve Makes Historic Move: Crypto and Stablecoins Featured at Jackson Hole
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