Visa is closing a loophole that enabled users to earn credit card rewards when purchasing meme tokens through Crossmint. The issue stemmed from transactions being misclassified under merchant codes for digital media, such as e-books and movies, rather than cryptocurrency purchases, allowing buyers to accumulate standard points or cash back. JPMorgan flagged the discrepancy to Visa, prompting a review that confirmed at least one transaction was incorrectly categorized. Going forward, meme coin purchases processed via Crossmint will be classified as cryptocurrency transactions and subject to Visa’s applicable rules and restrictions, ending eligibility for traditional credit card rewards.