Coinbase will automatically convert remaining balances of 14 restricted crypto assets held by retail customers across the European Economic Area (EEA) on October 30, 2026. The move follows the exchange’s efforts to comply with the European Union’s Markets in Crypto-Assets
Under the Markets in Crypto-Assets Regulation (MiCA), affected assets include USDT, PYUSD, DAI, PAXG, USD1, and GUSD. Customers who want to retain these holdings must withdraw them to supported external wallets before the deadline.
Coinbase Sets Deadline for Withdrawals
Coinbase has already restricted buying, selling, and converting the affected assets. Consequently, withdrawals remain the only available option for customers who wish to keep holding them.
Besides, the exchange warns that deposits arriving after October 30 will not receive account credit. Recovery may be possible through its unsupported asset process, but success remains uncertain.
The restrictions affect stablecoins and related assets from issuers including Tether, PayPal, and other providers. Hence, users should verify their balances and withdrawal options before the deadline.
MiCA Compliance Reshapes Stablecoin Access
After October 30, Coinbase will convert remaining balances into USDC where suitable. Otherwise, it will use another supported crypto asset or currency at prevailing market rates.
Additionally, customers should review potential tax consequences because converting crypto assets may trigger taxable events. Moreover, Coinbase may reconsider support if affected stablecoins meet MiCA requirements in the future. However, any later approval will not reverse completed conversions.
Related: India’s USDT Premium Holds Above 6%: How a Decline Could Affect Crypto Returns
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