WuBlockchain
Coinbase will automatically convert remaining balances in 14 restricted crypto assets held by EEA retail users on October 30. The move follows the exchange's MiCA compliance measures, which require users to withdraw the affected assets before the deadline.
Why it matters
The restricted list includes USDT, PYUSD, USD1, DAI and PAXG, covering assets issued by Tether, PayPal and Trump-linked World Liberty Financial, among others. Trading and conversions for these assets have already been restricted on Coinbase.
Users who leave balances in the affected assets will see them converted into USDC or other supported assets or currencies at prevailing market rates. The change gives MiCA compliance direct consequences for how EEA customers hold and access stablecoins and other crypto assets.
Market impact
Coinbase said deposits received after October 30 will not be credited to user accounts or included in the automatic conversion process. Recovery of those deposits cannot be guaranteed, making the deadline especially important for users moving funds into the affected assets.
The policy adds another layer of pressure on non-MiCA-compliant assets in the European market while reinforcing USDC's role as Coinbase's designated conversion asset for affected balances.
Source: [MiCA Non-compliant Stablecoins | Coinbase Help](https://help.coinbase.com/en/coinbase/other-topics/other/mica-restricted-stablecoins?utm_source=chatgpt.com)
Frequently asked questions
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When will Coinbase convert the restricted EEA assets?
Coinbase will automatically convert remaining balances on October 30. EEA retail users must withdraw the affected assets before that deadline.
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Which assets are included in Coinbase's EEA conversion?
The named assets include USDT, PYUSD, USD1, DAI and PAXG. Coinbase said the full restricted list contains 14 assets.
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What will Coinbase convert the balances into?
Remaining balances will be converted into USDC or other supported assets or currencies at prevailing market rates.
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Can EEA users still trade the restricted assets on Coinbase?
Trading and conversions of the affected assets have already been restricted for EEA users under Coinbase's MiCA compliance measures.
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What happens to deposits sent after the October 30 deadline?
Coinbase said deposits received after the deadline will not be credited to user accounts or included in the automatic conversion process, and recovery cannot be guaranteed.
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