Coinbase Sets Deadline to Delist Unregulated Stablecoins in Europe

Coinbase has set October 30 as the final deadline for customers in the European Economic Area to address 14 restricted digital assets. The list includes Tether’s USDT, PayPal’s PYUSD, and the World Liberty Financial token. This move complies with the European Markets in Crypto-Assets regulation, known as MiCA.

After the deadline, remaining user balances will undergo automatic conversion. The company will use Circle’s USDC or other supported assets to complete the adjustment based on availability. Deposits made after this date may become unrecoverable for platform clients.

The exchange has already blocked the buying and selling of these tokens in the region. The only alternative for those wishing to keep their original assets is to transfer them to external wallets before the deadline. The decision follows guidance from the European Securities and Markets Authority regarding stablecoin compliance.

This move anticipates regulatory requirements aimed at restricting custody and transfer services for issuers without official authorization. The measure may consolidate the presence of USDC in the European market by reducing the supply of competing alternatives. The total volume of assets affected by the change was not disclosed by the company.