A four-digit merchant code decided whether memecoin buyers faced KYC
Blog post from Didit
Excluded from normalized aggregate trends after staff review: 3056 posts were attributed to March 2026; 671 shared March 14, 2026. The preceding six-month median was 13.5 posts.
Review evidence: 3,056 posts in March 2026; 671 shared March 14, 2026; preceding six-month median 13.5. Reviewed August 9, 2026.
This company's pages remain public, but its content is excluded from normalized aggregate trends. Unfiltered raw trends and advanced filtering are available to Accelerate and Lead accounts.
A September 1, 2026 report by The Block found that credit-card purchases of the WIF memecoin through Robinhood Wallet and Fomo, processed by Crossmint, were coded as digital media rather than cryptocurrency, allowing users to avoid separate identity checks, earn ordinary card rewards, and bypass the quasi-cash treatment commonly applied to crypto purchases. Visa’s April 2026 rules require cryptocurrency transactions to use quasi-cash merchant codes 6012 or 6051 and a special crypto indicator, but its guidance also permits ordinary coding for fiat purchases of NFTs, leaving no explicit classification for memecoins. Crossmint has cited an SEC staff statement describing memecoins as collectible-like and not securities, although that statement does not address payment-network coding, anti-money-laundering obligations, or customer identification. Chase said it believed the digital-media categorization was incorrect and opened a case with Visa, while Visa and Mastercard made only general compliance statements and the New York Attorney General said it was reviewing the matter. No regulator, card network, or other authority had publicly resolved whether memecoins should be treated as cryptocurrency or digital goods for card-processing purposes, highlighting how a merchant code can determine rewards, fees, issuer visibility, and identity-verification practices.
No tracked trend matches for this post yet.
Use this post, company, and trend context to find content marketing opportunities, perform competitive analysis, or address product feature gaps via the Plushcap MCP server or the Plushcap API.