Coinbase Sets Oct. 30 Deadline for 14 MiCA-Restricted Stablecoins

European customers must withdraw USDT, PYUSD, USD1, and 11 others or face automatic conversion

Coinbase is automatically converting 14 MiCA-restricted stablecoins held by European customers into USDC or other supported assets on Oct. 30 unless withdrawn by the deadline, the exchange announced. The move follows the European Securities and Markets Authority’s Oct. 8 opinion directing authorized crypto firms to stop providing services for non-compliant stablecoins.

Affected assets include USDT (Tether Limited), PYUSD (PayPal), USD1 (World Liberty Financial), and 11 others that lack regulatory authorization under the EU’s Markets in Crypto-Assets Regulation. The transitional period for stablecoin issuers expired July 1, 2026, with no extension granted.

Coinbase has already restricted purchases, sales, and conversions of the affected assets, leaving only withdrawals to external wallets as an option for customers. The exchange warned that it will not credit customer accounts for affected assets sent after the deadline, and that they cannot be traded or transferred and will be excluded from the automatic conversion process.

Remaining balances will be converted at prevailing market rates on Oct. 30. Coinbase’s Luxembourg subsidiary serves European Economic Area customers under MiCA authorization, and the conversion requirement applies across the EEA region.

Recovery options and tax implications

Deposits arriving after Oct. 30 may become inaccessible. Coinbase offers an unsupported-asset recovery service, but recovery is not guaranteed and charges 5% on recovered assets exceeding $100 plus network fees. Automatic conversions may trigger tax obligations in certain jurisdictions, and future restoration of support will not reverse conversions completed under the Oct. 30 deadline.

The Oct. 8 ESMA opinion directed national authorities to address remaining stablecoin exposures within three months, establishing a Jan. 8, 2027 outer deadline for regulatory follow-up. Circle, the issuer of USDC, has obtained authorization under MiCA and remains supported on Coinbase’s European platform.

The delisting reflects enforcement of MiCA’s authorization requirements for stablecoin issuers. Coinbase did not specify which additional supported assets customers may convert into beyond USDC, and the total value of affected customer holdings remains undisclosed.