Visa Moves to Close Meme Coin Credit Card Rewards Loophole

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20 Sep, 16:01

Source: Decrypt

AI Summary

Visa restricts meme coin credit card rewards while JP Morgan secures a limited regulatory advantage on stablecoin rules, reflecting ongoing tightening of crypto payment policies.

After banks lost their push for tighter stablecoin rules in the failed Clarity Act, JP Morgan scored a narrower win as Visa moves to stop meme coin purchases from being coded as ordinary "digital media" and earning card rewards.