- Coinbase is giving European Economic Area retail users until October 30 to withdraw 14 crypto assets that cannot be offered under the EU’s Markets in Crypto-Assets regulation.
- The 14 restricted assets are USDT, PYUSD, USD1, DAI, PAXG, PAX, GUSD, GYEN, BUST, UST, RAI, MUSD, USDS, and TGBP, with issuers including Tether, PayPal, and Trump-linked World Liberty Financial.
- Any remaining balances will be auto converted to USDC at market rates on October 30; if USDC is unavailable, another supported asset will be chosen. The conversion may be taxable.
- MiCA’s transition period ended July 1, 2026; Coinbase operates its EEA retail business through Coinbase Luxembourg, regulated under MiCA by the Luxembourg regulator.
Coinbase is requiring European Economic Area retail users to withdraw 14 crypto assets before October 30, 2026, when the exchange will automatically convert any remaining balances into USDC. Purchases, sales, and conversions of the 14 assets have already been halted for EEA retail users.
Coinbase to Automatically Convert 14 Restricted Crypto Assets for EEA Users on October 30
Under Coinbase’s previously announced MiCA compliance measures, retail users in the European Economic Area (EEA) must withdraw 14 restricted crypto assets, including USDT, PYUSD, USD1, DAI, and PAXG, before October 30. On that date, Coinbase will automatically convert remaining balances into USDC or other supported assets or currencies at prevailing market rates.
Trading and conversions of these assets have already been restricted. Coinbase warned that deposits received after the deadline will not be credited to user accounts or included in the automatic conversion process, and recovery cannot be guaranteed. The restrictions affect assets issued by Tether, PayPal, and Trump-linked World Liberty Financial, among others.
— Wu Blockchain (@WuBlockchain) October 27, 2026
The 14 assets are USDT (Tether), PYUSD (PayPal), PAXG (Paxos Gold), USD1 (Trump-linked World Liberty Financial), GYEN (GMO Trust), DAI (Maker), PAX (Paxos Standard), USDS (Sky Protocol), GUSD (Gemini Dollar), BUST, UST, RAI (Reflexer), MUSD, and TGBP (TrueGBP).
Auto-conversion, Tax Implications & Deposit Policy
EEA retail customers who do not manually withdraw their holdings before the October 30 deadline will have remaining balances automatically converted to USDC at prevailing market rates. If USDC is unavailable for a particular customer, Coinbase will convert to another supported asset.
Coinbase has warned customers that the conversion may be a taxable event depending on the applicable tax laws in the customer’s jurisdiction. The conversion is a one-time process; any deposits of the 14 restricted assets made after the deadline will not be credited to customer accounts.
MiCA Compliance & Competitive Landscape
The MiCA transition period for electronic money token issuers and asset-referenced token issuers ended on July 1, 2026, requiring stablecoin issuers operating in the EU to hold a valid license or have their tokens removed from European exchanges.
Coinbase operates its EEA retail business through Coinbase Europe Limited, which holds a license regulated under MiCA through Luxembourg’s financial regulator.
Coinbase said it could restore trading for any of the 14 assets if their respective issuers satisfy MiCA’s requirements and Coinbase completes its due diligence. Revolut has also removed USDT from its platform for EEA users under the same regulatory framework.
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