Coinbase has given European Economic Area retail customers three days to withdraw 14 restricted crypto assets before October 30. According to Coinbase’s updated guidance, remaining balances face automatic conversion as the exchange enforces European stablecoin rules.
Coinbase Sets October 30 Deadline for 14 Crypto Assets
The restricted assets include USDT, PYUSD, USD1, DAI, and PAXG, alongside nine other tokens on Coinbase’s European platform. There are also PAX, GUSD, GYEN, BUST, UST, RAI, MUSD, USDS and TGBP.
The exchange has already halted purchases, sales, and conversion of such in the EEA for impacted retail users. If they wish to keep their assets, customers must move them to supported external wallets prior to the deadline.
The restrictions cover tokens from several issuers, including Tether, PayPal, and Trump-linked World Liberty Financial. Similarly, another European platform, Revolut, also cut access to USDT after the MiCA July deadline.
Coinbase Will Automatically Convert Remaining Balances
“Any remaining impacted tokens will be converted to USDC at market rates on October 30, if applicable,” Coinbase said. If USDC is not available, the exchange will choose another supported cryptocurrency or currency to exchange for.
This process will happen one time only, and customers may experience a temporary drop in balances as Coinbase works through those. The exchange will then add the conversion to the account’s history and increase the balance of the newly converted assets.
The conversion will be in line with the market rates as of the time of the conversion and not the rates prior to the conversion deadline. However, the exchange also noted that the conversion may generate taxable events, based on local tax laws.
Rules Restrict Unsupported Stablecoins in Europe
Coinbase attributed the restrictions to Europe’s Markets in Crypto-Assets regulation, which sets authorization requirements for stablecoin issuers. The transition period ended July 1, 2026, and Coinbase said regulators did not extend the deadline.
Coinbase Luxembourg operates under MiCA authorization from Luxembourg’s financial regulator, allowing it to serve retail customers across the EEA. The exchange previously established its Luxembourg-based European hub as crypto firms prepared for the region’s licensing requirements.
Deposits of these 14 assets after October 30 will not appear in balances or qualify for automatic conversion. Coinbase said unsupported asset recovery may sometimes work, but returns depend on the token and network involved. The warning also covers deposits from external wallets, even when customers previously held those tokens on Coinbase.
The exchange will continue reviewing restricted assets and could restore support if their issuers meet MiCA requirements. However, any future change would not reverse conversions already completed after the October 30 deadline.
