What happened.
The Block reported that Visa will close a memecoin rewards loophole connected to Crossmint-powered sales. Its account attributes the claim to another, unnamed report, so the action should be treated as reported rather than established.
The report says the grace period is expected to end next week. At the time described in the record, Crossmint-powered memecoin sales remained live on both apps.
Why it matters.
If confirmed, the reported change could affect a rewards channel used alongside Crossmint-linked memecoin sales. The immediate significance is operational: a channel that is currently live may not remain available after the reported grace period.
The item also illustrates that payment-network terms can matter to market access. That is an implication of the reported action, not confirmation that the reported closure has occurred.
What to watch next.
Watch for a direct Visa statement, a Crossmint statement, or confirmation from the affected apps that specifies whether the loophole is closing, when any grace period ends, and how rewards or sales will be handled. Until then, the timing and scope remain uncertain.
A direct confirmation from Visa, Crossmint, or the affected apps on the reported closure and grace-period timing.
Upstream references and independent checks
Digest dated 2026-09-20 · upstream model sonnet. Direct links are matched to all 1 upstream source IDs.
- 1Visa to close Crossmint memecoin rewards loophole following The Block investigation: reportDirect upstream source ·
f87e61bbeebc76428cd887e6d3573291ce7d4baf
This Research brief was generated by Terra from a dated upstream research digest. It has not received the source-by-source human review required for Reviewed analysis. Material limit: The claim is based on a single approved reporting source that relays an unnamed report secondhand; there is no independent corroboration in the supplied record.