Digital currency and crypto payments have come a long way – they’re no longer outlandish concepts; they have advanced significantly. Through cross-border stablecoin transfers or loyalty programs based on NFTs, more individuals and businesses in the UK and EU are using digital currencies and accepting cryptocurrency payments in their day-to-day operations.
Visa’s Major Updates Reshape Crypto Payments
Visa made significant changes in 2024 that changed the way NFT and cryptocurrency transactions operate. These included more transparent dispute procedures for NFTs, new acceptance criteria for digital currencies, and the Ramp Provider Program. By 2025, those changes have fully materialized and are influencing the widespread use and regulation of cryptocurrencies.
Why Businesses Need to Stay Ahead of Crypto Rules
Following these developments is crucial if your company is a fintech, merchant, or crypto-native enterprise. This guide will explain the most recent Visa regulations, the implications of laws like MiCA for you, and how CardCorp can help you confidently accept crypto payments.
Visa Crypto Rules – What’s Already Changed
Visa’s 2024 rule changes marked a major turning point for the acceptance of digital currencies. The goal of the new standards is to decrease disputes, increase issuer clarity, and provide merchants with a more secure framework for doing business in high-risk industries like cryptocurrency.
Key Changes Introduced by Visa
Key updates include:
- The Ramp Provider Program’s inception, which gave on/off ramps a formal role
- Better transaction-level information, such as indicators for live conversions, NFTs, and stablecoins
- More thorough standards for strong evidence in disputes involving cryptocurrency
- Requirements for digital asset disclosure before and after purchase
Why These Changes Matter for Digital Currency Acceptance
Cryptocurrency payments functioned in a gray area for years, with some platforms accepting them but no set regulations. Visa’s framework now offers global consistency and structure. This is particularly crucial for companies that operate internationally.
To learn more about how Visa now handles crypto-related loads and exchanges, read our article on Account Funding Transactions (AFT).
What Is a Ramp Provider?
A ramp provider is a service that converts fiat to crypto or crypto to fiat – the crucial bridge between traditional financial systems and digital assets. Fiat onramps, wallet platforms, and cryptocurrency exchanges are a few examples.
Key Requirements for Ramp Providers Under Visa’s 2024 Policy
Under Visa’s 2024 policy:
- Third-party agents, or TPAs, are required to register as ramp providers
- They fall under the category of High-Integrity Risk (HIR) merchants
- A transaction-level indicator (such as a stablecoin or NFT) must be included in every transaction.
- Rules pertaining to enhanced KYC, AML, ATF, and sanctions screening must be followed by the provider
- A safe and transparent checkout procedure with post-purchase receipts is essential
Why Visa Introduced Stricter Standards for Ramp Providers
This is a component of Visa’s larger initiative to control the points of entry and departure for fiat and digital currencies. The adoption of digital currency is greatly aided by ramp providers, who are now held to strict compliance and transparency requirements.
How CardCorp Helps Ramp Providers Stay Compliant
Do you need assistance configuring your ramp flow? CardCorp can help you with custom integrations and onboarding, among other things.
Merchant Category Codes (MCCs) for Crypto and NFT Businesses
Card networks use four-digit numbers called Merchant Category Codes (MCCs) to categorize companies according to the goods or services they provide. Although there isn’t a specific MCC for crypto or NFTs at the moment, there are a number of codes that are frequently used based on the kind of business you run.
It is crucial to know which MCC applies to your company in order to approve merchant accounts, maintain compliance, and prevent problems accepting payments.
Here are the most relevant MCCs for crypto, NFT, and related high-risk activities:
MCC 6051 – Quasi Cash (Common for Digital Currency and Crypto Payments)
Typical use: Crypto exchanges, wallets, onramps
Description: Used for financial services involving quasi-cash transactions, such as money transfers, travellers’ cheques, and cryptocurrency purchases.
- Most frequently used in crypto exchanges and fiat-to-crypto ramps
- Because of its connection to cash equivalents, it is regarded as high-risk
- May result in issuer limitations, like declines or limits
💡 This is the most common MCC for crypto platforms.
MCC 7399 – Business Services, Not Elsewhere Classified
Typical use: NFT marketplaces, Web3 platforms
Description: A general-purpose code for digital or business services that don’t fall under another specific category.
- Marketplaces, platforms, or SaaS products that facilitate NFT creation or trading are frequently used
- May be suitable for platforms that offer NFT utilities or Web3 infrastructure providers
- Though less stringent than 6051, it is still closely examined during the underwriting process
MCC 5815 – Digital Goods: Media, Software & Downloads
Typical use: NFT art, music, downloadable content
Description: Applies to merchants that sell digital goods like software, ebooks, music, or other downloadable content.
- May be suitable for NFT collections sold as digital media
- Requires clear asset description and delivery proof
- Can help reduce friction for consumer NFT purchases
MCC 8999 – Professional Services (Miscellaneous)
Typical use: Custom NFT design, blockchain consulting
Description: A catch-all category for licensed professionals and bespoke services.
- Common for agencies or platforms offering white-label NFT solutions, design, or development.
- Also used for blockchain consultancy and compliance services.
For more guidance on how the application and approval process works for high-risk businesses, check out our blog post: Merchant Account Approval for High-Risk Businesses.
Why Your MCC Matters
Your assigned MCC affects:
- Your approval process with acquirers
- Whether banks allow or block your transactions
- Your fees, chargeback risk, and settlement times
- Whether you’re flagged for additional compliance checks
While the MCC is assigned by the acquirer, CardCorp works closely with high-risk and crypto businesses to help ensure the right code is used and to support a compliant, effective payment setup.
💡 Want to explore MCCs further? See our blog post: Merchant Category Codes: How They Affect Your Business
Digital Currency Acceptance – What’s Required in 2025
Visa’s 2025 guidelines for accepting digital currencies emphasize compliance, transparency, and traceability. All retailers who sell digital assets, whether directly or via a ramp, must abide by these regulations.
You must provide:
- Clear pre-purchase disclosures (details of the asset type, conversion rate, and fees)
- Post-purchase receipts with the delivery address (wallet address, for example)
- Indicators at the transaction level for precise reporting
- Strong evidence in favor of dispute resolution
Why it matters: By aligning your checkout flow with Visa’s requirements, you reduce the risk of disputes and boost consumer confidence in crypto payments.
Need help designing your checkout flow? CardCorp ensures your business meets Visa’s technical standards while delivering a seamless experience.
NFTs and Disputes – What’s Enforceable Now?
NFT transactions are now treated by Visa as high-risk sales of digital assets, which means that in order to prevent fraud and maintain accountability, merchants must abide by new guidelines.
Here’s what applies:
- NFTs have to be sent to the right wallet address
- The product description and the metadata must match
- After delivery, sellers are required to provide a receipt right away
- Only if the NFT was misrepresented or not delivered can buyers contest it
Merchants can fight disputes using blockchain records, smart contract logs, and timestamped delivery proof.
NFTs have evolved beyond digital art, and businesses are using them for loyalty rewards, event ticketing, and product verification. Visa’s rules apply across all these use cases.
Explore how we support NFT businesses via CardCorp’s high-risk merchant accounts.
Crypto Transaction Dispute Rules – Better for Everyone
Visa’s updated rules have created a clearer path for resolving crypto-related disputes. This helps protect merchants from chargebacks while giving buyers reasonable rights.
Valid Reasons for Crypto Payment Disputes
Disputes are valid for:
- Non-delivery of the asset
- Significant mismatch between the description and the delivered item
Invalid Reasons for Disputes
They’re not valid for:
- Asset losing value post-purchase
- Buyer changing their mind
- Buyer misplacing access credentials
The Rise of Blockchain-Based Arbitration
Many platforms are exploring blockchain-based arbitration, where independent experts resolve disputes, and outcomes can be enforced using smart contracts. This means that if an arbitrator rules in favour of one party, the decision can trigger an automated action, such as releasing funds, without needing to go through a traditional legal process. This trend is gaining momentum in regions like the UK, EU, and Asia, particularly among decentralised platforms and Web3 marketplaces.
Global vs Regional Rules
It’s important to distinguish between Visa’s global network rules (which govern how transactions are processed) and regional regulatory obligations (like MiCA in the EU or the MLRs in the UK), which govern how crypto businesses are licensed and supervised.
MiCA, AML, and Regional Crypto Compliance in 2025
The EU’s Markets in Crypto-Assets (MiCA) regulation is now in force, requiring crypto businesses to register as CASPs (Crypto Asset Service Providers). In the UK, while the FCA does not officially use the terms VASP or CASP, cryptoasset businesses must register under the Money Laundering Regulations (MLRs) and meet strict compliance standards.
MiCA Requirements for Digital Currency Businesses
Key requirements include:
- Stablecoin capital and reserve management
- Compliance with AML and consumer protection
- Open and honest product disclosures and marketing
- Licensing for asset issuers and custodians
If your business operates in the EU or UK, you must now verify whether your activities qualify under MiCA or fall under FCA oversight. Penalties for non-compliance are steep – including potential bans and heavy fines.
UK Money Laundering Regulations for Crypto Payments
In the UK, crypto businesses fall under the scope of the MLRs, which require:
- Registration with the Financial Conduct Authority (FCA)
- Ongoing AML and KYC controls
- Compliance with sanctions screening and transaction monitoring rules
The UK’s regulatory framework is functionally similar to MiCA but operates under separate national laws. Crypto payments providers and digital currency exchanges must ensure full compliance to maintain their FCA registration.
Crypto Transaction Indicators – Why They Matter
Visa now requires every crypto transaction to include a transaction indicator, such as:
- Stablecoin (e.g. USDC, EURC)
- Blockchain-native token (e.g. ETH, SOL)
- CBDC or tokenised deposit
- NFT
- Fiat-to-crypto conversion (live rate)
These values help issuers assess risk, reduce fraud, and classify transactions properly.
Missing or incorrect indicators can lead to declined payments or acquirer issues.
How CardCorp Supports Compliance
CardCorp works with cryptoasset businesses, CASPs, and VASPs (where applicable) to establish compliant merchant accounts and meet operational obligations. Whether you’re onboarding as a ramp provider or building out crypto payment flows, we help businesses align with MiCA, the MLRs, and Visa’s global network rules.
Final Thoughts
The world of digital currency and NFTs has matured rapidly – and 2025 marks a clear turning point. With Visa’s updated rules, formal recognition of ramp providers, clearer NFT dispute policies, and evolving global regulations like MiCA and VASP, crypto is no longer an unregulated frontier. It’s becoming a structured, scalable part of modern payments infrastructure.
For businesses, this shift brings both challenges and opportunities. Those that adapt early will gain a competitive edge by offering innovative payment options, improving customer trust, and ensuring regulatory compliance.
Whether you’re developing a crypto payment flow, securing approval as a high-risk merchant, or integrating with a ramp provider, CardCorp is here to support you every step of the way.
Frequently Asked Questions (FAQs)
1. What is the Visa Ramp Provider Program?
Visa’s onboarding program for cryptocurrency ramps has particular guidelines for data, compliance, and merchant classification. It makes it possible for services like fiat onramps and exchanges to function within Visa’s card network.
2. What does MCC 6051 mean for my crypto business?
The standard code for high-risk sectors like cryptocurrency is MCC 6051. You’ll probably need to follow this MCC in order to stay in compliance if you sell NFTs or digital currency. It informs payment processors and banks that the transaction includes quasi-cash activities, like purchasing cryptocurrency.
3. How are NFTs treated under Visa’s rules?
NFTs are treated as digital asset sales. Delivery, metadata, and receipt records must be provided to prevent disputes. Buyers can’t file a chargeback if the asset loses value.
4. What’s the difference between a CASP and VASP?
Businesses that provide cryptoasset-related services, like custody, exchange, or other financial operations, are referred to by the terms CASP and VASP. They come from various regulatory frameworks, though:
The MiCA (Markets in Crypto-Assets) regulation, which unifies crypto regulations throughout the European Union, introduced the term CASP (Crypto Asset Service Provider). To operate lawfully in the EU, CASPs must adhere to strict guidelines regarding licensing, governance, custody, and investor protection under MiCA.
The Financial Action Task Force (FATF) uses the term VASP (Virtual Asset Service Provider) in its global anti-money laundering (AML) recommendations. Many EU nations used local AML frameworks to issue VASP registrations prior to MiCA. As a result, many European cryptocurrency companies have historically been classified as VASPs, particularly when following FATF-aligned guidelines.
The terms VASP and CASP are not used in the UK. Rather, the Money Laundering Regulations (MLRs) in the UK establish two primary categories:
- Providers of cryptoasset exchanges
- Custodian wallet providers: These UK definitions have the same functional purpose as VASP/CASP, requiring companies to comply with AML regulations and register with the FCA.
In summary:
- CASP = EU MiCA-compliant crypto business
- VASP = FATF-aligned global term, historically used across many jurisdictions
- UK terms = ‘Cryptoasset exchange provider’ and ‘Custodian wallet provider’, as defined in the Money Laundering Regulations
5. Are these rules global or regional?
Visa’s rules apply globally. However, regulations like MiCA (EU) or VASP registration (UK) depend on local laws.
6. Can I accept crypto payments without registering?
That depends on your region and setup. You may need to partner with a registered entity or limit services to non-custodial models. CardCorp can help assess your status.
7. What qualifies as Compelling Evidence?
Wallet delivery logs, smart contract data, transaction hashes, and screenshots proving fulfilment.
8. Are stablecoins good for cross-border payments?
Yes – stablecoins like USDC and EURC are widely used for low-fee, fast-settlement international transactions.