On October 30, 2026, Coinbase will automatically convert the remaining balances of 14 cryptocurrencies that do not comply with MiCA into USDC for its retail clients in the European Economic Area. The operation will notably include Tether’s USDT, PayPal’s PYUSD, World Liberty Financial’s USD1, Paxos’s PAXG and ten other stablecoins. Customers must withdraw these assets to an external wallet before the deadline, while deposits made after October 30 will neither be credited nor converted. The decision anticipates the European Securities and Markets Authority’s request that licensed platforms end services involving noncompliant stablecoins. It strengthens the position of USDC, with a market capitalization exceeding $71 billion, in contrast with USDT, which remains excluded from regulated European platforms despite a capitalization of more than $182 billion.
Source: Read the original article
