EU platforms prepare for MiCA stablecoin auto-conversions ahead of October 30
CIE News ·
Based on reporting by CryptoRank; not yet independently confirmed.
European platforms face an October 30 auto-conversion deadline to swap unauthorized stablecoins like USDT into USDC, ahead of a wider MiCA phase-out by January 8, 2027.
Crypto exchanges across the European Economic Area are preparing for an October 30, 2026 cut-off date to convert unauthorized stablecoins into regulated alternatives, according to cryptoticker.io. Platforms including Coinbase will automatically swap non-compliant tokens such as Tether (USDT), DAI, and PayPal USD (PYUSD) primarily into USD Coin (USDC) if users do not withdraw or trade their balances beforehand.
On October 22, 2026, USDT held a market capitalization of around $183 billion compared to roughly $72 billion for USDC, cryptoticker.io reported. However, Tether lacks authorization as an e-money token under the European Union's Markets in Crypto-Assets regulation, whereas Circle Internet Financial Europe secured authorization in France. The European Banking Authority designated USDC as the bloc's first significant e-money token on October 14, 2026, and is set to assume direct oversight of its reserves on November 12, 2026.
The exchange measures align with supervisory directions to wind down unauthorized tokens. According to cryptoimpuestos.es, the European Securities and Markets Authority asked licensed platforms on October 8, 2026, to cease services for non-compliant stablecoins within three months, setting a final market exit deadline of around January 8, 2027.
Key facts
- USDT market cap near $183B
- USDC market cap near $72B
- Oct 30 conversion cut-off
- Jan 8 2027 exit deadline
Read the original at CryptoRank