Coinbase Plans to Convert EEA Customers’ Affected Stablecoin Balances Oct. 30

Coinbase plans to convert European Economic Area customers’ remaining balances in affected stablecoins on Oct. 30, ahead of a Jan. 8, 2027, deadline for MiCA-authorized crypto-asset service providers in the EU to address noncompliant token exposure.

Tether (USDT) is among the affected stablecoins. Coinbase plans to exchange remaining balances for USD Coin (USDC) where suitable, or another supported crypto asset or currency if it is not.

The European Securities and Markets Authority (ESMA) said national regulators should require crypto-asset service providers authorized under the Markets in Crypto-Assets Regulation to address legacy exposure to noncompliant stablecoins as soon as possible and within three months of its Oct. 8 opinion. That period ends Jan. 8, 2027, by calendar calculation. The Jan. 8 deadline applies to the remediation window ESMA set.

ESMA’s opinion concerns services involving noncompliant stablecoins and allows limited, time-bound wind-down services for existing holdings. It does not name USDT or another specific stablecoin.