Visa Closes Loophole on Memecoin Rewards

Visa has announced it will close a loophole that allowed users to earn regular credit card rewards on memecoin purchases, a move aimed at preventing abuse of the system.

This decision follows a week of increasing regulatory scrutiny in Washington D.C. and underscores the ongoing challenges facing the crypto sector.

The new policy targets memecoin transactions made through credit cards and is effective immediately.

Users will no longer be able to accumulate traditional rewards on these purchases, as part of a broader effort to tighten compliance and consumer protection in the industry.