Coinbase to automatically convert restricted tokens for European users ahead of MiCA deadline

Coinbase will automatically convert or restrict 14 crypto tokens held by European customers by Oct. 30, citing the EU's MiCA regulation. Affected assets include USDT, PYUSD, USD1, DAI, PAX, GUSD, GYEN, BUST, UST, RAI, PAXG, MUSD, USDS and TGBP. Users must withdraw holdings or accept conversion to USDC or other supported assets. Coinbase attributes the move to the expiration of the transitional period for stablecoin issuers under MiCA on July 1, 2026.