Visa Moves to End Card Rewards on Meme Coin Purchases

Visa's reclassification is a quiet but telling shift in how card networks police crypto activity: rather than fighting the broader stablecoin rule battle that banks lost under the Clarity Act, it targets the narrow, politically easy category of meme coins. The practical effect is a repricing of card-based crypto speculation, removing a subsidy that card issuers never intended to fund. Whether other networks follow Visa's coding change is the open question, and whether banks treat this as a template for squeezing other crypto-adjacent reward categories.