According to Crypto In America, insiders have revealed that Visa is requesting payment processors to stop categorizing Meme coin purchase transactions as 'digital media goods.' The grace period for related adjustments is expected to end next week. Previously, when users purchased Meme coins via Robinhood Wallet and Fomo apps supported by Crossmint, some credit card transactions were classified under merchant categories typically used for e-books, movies, and music, allowing them to earn points or cashback. The report, citing correspondence it reviewed, states that Visa has explicitly informed at least one industry participant that this merchant category is not applicable for Meme coin purchases and has reportedly instructed payment processors, including Checkout.com, to cease using it. Such purchases will henceforth be processed as cryptocurrency transactions, subject to the corresponding rules and restrictions. Visa and Crossmint have yet to respond to requests for comment. https://(wublock123.com)/news/visa-reclassifies-meme-coin-purchases-blocks-card-rewards-exploit-68646