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Magyar27 Oct 2026
Coinbase will automatically convert 14 restricted tokens, including Tether's USDT, PayPal's PYUSD and World Liberty Financial's USD1, for retail customers in the European Economic Area on Oct. 30. Users who want to keep these assets must withdraw them to an external wallet before the cutoff, and deposits sent afterward will not be credited.
Regulation TradeReviewed News Desk
Coinbase has given its European retail customers three days to move 14 restricted crypto assets off the exchange before it converts them automatically on Oct. 30, according to a customer notice reported by CryptoSlate. The move applies to users in the European Economic Area (EEA) and is tied to the EU’s Markets in Crypto-Assets Regulation (MiCA).
Which tokens are affected
The restricted list covers USDT, PYUSD, USD1, DAI, PAX, GUSD, GYEN, BUST, UST, RAI, PAXG, MUSD, USDS and TGBP. Coinbase has already blocked purchases, sales and conversions involving these assets, so the only way to keep them is to withdraw to a supported external wallet before the deadline.
Balances left on the platform will be converted at prevailing market rates into Circle’s USDC where suitable, or into another supported asset or currency. Because the list includes PAXG, a gold-backed token, and GYEN, which tracks the Japanese yen, the conversion can change the economic exposure of affected holders, not just the token ticker.
Why Coinbase is doing this now
MiCA requires issuers of qualifying stablecoins to hold regulatory authorization. Coinbase said the transitional period for stablecoin issuers expired on July 1, 2026, without an extension. On Oct. 8, the European Securities and Markets Authority (ESMA) told authorized crypto firms to stop providing services involving non-compliant stablecoins, covering custody, transfers and portfolio management as well as trading. National regulators were given three months to clear remaining exposures, which puts the outer limit at Jan. 8, 2027. Coinbase’s Oct. 30 cutoff lands well before that.
The exchange’s Luxembourg subsidiary, which serves EEA customers under a MiCA authorization, said it will keep reviewing the list. Tokens whose issuers later win approval could return, but conversions already completed will not be reversed.
Late deposits and recovery fees
Coinbase warned that affected assets sent to old deposit addresses after the deadline will not be credited, cannot be traded or moved, and are excluded from the automatic conversion. Recovery may be possible through its unsupported-asset recovery service, which charges 5% on recovered amounts above $100 plus network fees, with no guarantee of success. The exchange also noted that an automatic conversion from one crypto asset to another may be a taxable event in some jurisdictions.
What it means for traders
If you hold any of the 14 tokens on Coinbase in the EEA, decide before Oct. 30 whether to withdraw or accept conversion, and double check that no recurring transfers or deposit addresses still point to Coinbase for these assets. The decision also tilts Europe’s regulated stablecoin market further toward USDC, since balances will be routed away from rivals such as USDT. Coinbase has not disclosed how much customer value is affected. Stablecoin support differs by exchange and region, so compare platforms in our exchange comparison and read our BingX review and OKX review before moving funds. Not financial advice.
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