Coinbase sets 3-day MiCA deadline for USDT, PayPal and Trump-linked stablecoins
Coinbase will automatically convert 14 tokens held by EEA retail customers on Oct. 30 unless users withdraw them first. The list includes USDT, PYUSD, DAI and several other stablecoins, as well as gold-backed PAXG and yen-linked GYEN. Coinbase cites MiCA authorization requirements and an ESMA opinion directing firms to stop servicing non-compliant stablecoins. Affected tokens can no longer be bought, sold or converted on Coinbase; after the deadline, deposits will not be credited and may be difficult or impossible to recover. Conversions will use prevailing market rates and could create tax obligations. Coinbase has not disclosed the value of affected holdings, and support could return if issuers obtain approval, but completed conversions will not be reversed.
