According to CoinMeta, sources familiar with the matter revealed that Visa is requesting payment processors to stop classifying purchases of meme currency as “digital media goods,” and the related grace period for compliance is expected to end next week. Previously, when users made purchases of meme currency through Robinhood Wallet and Fomo applications supported by Crossmint, some credit card transactions were categorized under the merchant category typically used for e-books, movies, and music, allowing users to earn points or cashbacks. The report cites correspondence reviewed, stating that Visa has made it clear to at least one industry participant that this merchant category does not apply to purchases of meme currency, and has notified payment processors, including Checkout.com, to stop using it. Subsequent purchases of this type must now be treated as cryptocurrency transactions, subject to the corresponding rules and restrictions. Visa and Crossmint have not yet responded to requests for comment.