Coinbase gives European clients a deadline until October 30 to withdraw USDT and 13 tokens

Retail clients of Coinbase in the European Economic Area must withdraw 14 tokens by October 30, which the exchange can no longer support. The list includes USDT from Tether, PYUSD from PayPal, DAI, PAXG, and USD1 from WLFi, as well as PAX, GUSD, GYEN, BUST, UST, RAI, MUSD, USDS, and TGBP.

The MiCA transition period for stablecoin issuers ended on July 1, 2026, and was not extended. Coinbase can no longer support stablecoins whose issuer is not authorized under MiCA. Users in the European Economic Area (EEA, including EU countries, as well as Iceland, Liechtenstein, and Norway) will not be able to buy, sell, or convert such tokens on the exchange – this function has already been disabled for all affected retail clients. To retain the tokens, there is one option: send them to a supported external wallet before the deadline. Balances remaining on the exchange will be automatically converted to USDC.

This is not only a decision by Coinbase: Revolut also discontinued USDT for European users following the July MiCA deadline.

Unfortunate coincidence

Last week, AMBCrypto reported that the Central Bank of Ireland fined Coinbase Ireland €3.25 million. The account, where client funds were supposed to be held separately, fell short of the required level every day for about 18 months, and at one point the deficit reached €5.2 million. Funds from 30 large clients were also mixed with Coinbase Inc.'s own money.

These are two different entities: the Irish division was responsible for electronic money, while the MiCA license was registered with Coinbase Luxembourg. Within a week, Coinbase went from paying a fine to a European regulator to applying the rules of a neighboring regulator to its users.