Coinbase has told customers in the European Economic Area to withdraw 14 restricted crypto assets, including USDT, PYUSD, USD1, DAI and PAXG, by October 30 in compliance with the EU’s MiCA regulation. Any remaining balances will be automatically converted at prevailing market rates into USDC or another supported asset or currency, potentially strengthening Circle’s position in Europe. Deposits made after the deadline will not be credited and may be irrecoverable, even though Coinbase offers a recovery service charging 5% on recovered amounts above $100. The decision comes ahead of European Securities and Markets Authority guidance setting January 8, 2027 as the outer deadline for handling stablecoins that do not meet MiCA requirements.
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