Visa is implementing new measures to stop meme coin acquisitions from being categorized as standard "digital media." This change means that individuals purchasing meme coins will no longer be able to accrue credit card rewards for these transactions. The move specifically targets the previous practice where such digital asset purchases were eligible for reward points due to their coding.
This action by Visa is considered a "narrower win" for JP Morgan. It follows a previous legislative defeat for banks, which had campaigned for stricter stablecoin regulations under the proposed Clarity Act. That initiative ultimately failed to pass. Visa's recent decision offers a more limited but significant success in shaping how cryptocurrency related transactions are handled within the financial rewards system.