Coinbase to convert 14 non-MiCA stablecoins to USDC in 2026
6.6 Stablecoins Coinbase will convert 14 non-MiCA-compliant stablecoins in Europe into USDC or another asset from October 30, 2026. Users must withdraw these tokens before the deadline.
Coinbase has announced that, starting October 30, 2026, it will automatically convert the remaining balances of 14 restricted cryptocurrencies—primarily stablecoins that do not comply with the European Union’s MiCA regulation—into USDC or another supported asset. The affected tokens include USDT, PYUSD, USD1, DAI, PAXG, PAX, GUSD, GYEN, BUST, UST, RAI, MUSD, USDS, and TGBP. Retail customers in the European Economic Area must withdraw these assets to an external wallet before the deadline. Buying, selling, and converting these tokens has already been disabled on the platform. Any deposits made after October 30 will not be credited, and recovery is not guaranteed. Coinbase attributes this action to the expiration of the transitional period for stablecoin issuers under MiCA, which requires regulatory authorization to operate in the region. The conversion will occur at the prevailing market rate and may have tax implications depending on the user’s jurisdiction.
