Visa to close Crossmint memecoin rewards loophole after The Block probe
Visa is moving to stop crypto payment processors from categorizing memecoin purchases under a "digital media" category, which let users buy memecoins with credit cards and earn ordinary points or cash back, per a Crypto in America report citing a Friday newsletter.
Visa is moving to prevent crypto payment processors from classifying memecoin purchases as "digital media," a setup that allowed users to buy memecoins with credit cards and receive ordinary points or cash back on those purchases, according to a Friday report from the newsletter Crypto in America.