Your USDT on Coinbase Europe has an expiry date, but why exactly?
These restrictions were attributed to MiCA regulations.
If you’re a Coinbase user in Europe with certain stablecoins, the clock is ticking. They want to be done with them soon.
Anything left behind gets converted automatically, whether you like it or not.
Coinbase sets deadline to move USDT and 13 other tokens
Housekeeping has arrived at Coinbase!
Retail customers in the Europe Economic Area have until 30th October to withdraw 14 tokens that the exchange no longer supports.
Some of the bigger names on that list are Tether’s USDT, PayPal’s PYUSD, DAI, PAXG and WLFi’s USD1. The rest are PAX, GUSD, GYEN, BUST, UST, RAI, MUSD, USDS and TGBP.
The MiCA transitional period for stablecoin issuers ended on July 1, 2026, and was not extended. Coinbase can no longer support stablecoins whose issuer is not MiCA-authorised.
User in the EEA won’t be able to buy, sell or convert any of them on Coinbase anymore. In fact, that feature is already disabled for all affected retail users. If a retail users want to hang on to their tokens, the only option is to send them to a supported external wallet before the deadline.
And, it’s not just Coinbase doing that. In fact, Revolut also dropped USDT for European users after MiCA’s July deadline came around.
Awkward timing for Coinbase?
Just last week, AMBCrypto reported that the Central Bank of Ireland fined Coinbase Ireland for €3.25 million. The account meant to hold customer money separately had fallen short every day for about 18 months. At one point, this deficit was as big as a mammoth €5.2 million!
Funds from 30 big clients had also been mixed in with Coinbase Inc.’s own cash.
To be clear, two different entities were involved here. While the Irish arm handled e-money, the MiCA license was registered with Coinbase Luxembourg.
Still, in the space of a week, Coinbase has gone from paying an European regulator to enforcing that regulator’s neighbour’s rules on its own users.
Final Summary
- Coinbase has given European retail users until 30th October to move USDT and 13 other tokens.
- Any tokens left behind will be converted to USDC.
