Coinbase will automatically convert 14 restricted crypto assets for EEA users on October 30 under MiCA compliance, including stablecoins USDT, DAI, and USD1.
DeFi & Yields ·
Coinbase is enforcing Markets in Crypto-Assets Regulation (MiCA) compliance by requiring European Economic Area users to liquidate holdings in 14 restricted digital assets by October 30. The affected tokens include stablecoins USDT, PYUSD, USD1, and DAI, as well as PAXG, with issuers ranging from Tether and PayPal to entities linked to World Liberty Financial. After the deadline, any remaining positions will be automatically converted to USDC or other permitted currencies at market rates.
Trading and conversion functionality for these assets have already been disabled on the platform. Coinbase has cautioned that deposits sent after October 30 will not be processed into user accounts or included in the forced conversion, with no assurance of recovery.
The move reflects broader European regulatory pressure on cryptocurrency platforms to align with MiCA rules governing stablecoin issuance and custody. What remains unclear is whether other major exchanges operating in the EEA will adopt similar timelines or conversion policies for the same asset set.