Coinbase sets October 30 conversion: What it means for the Tether USDt price

Published on 10/28/2026 at 07:10 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Fourteen stablecoins face conversion for EEA retail users. The Tether USDt price is 0.9988 USD as of October 28, 2026.

Regulation and reserve scrutiny

Coinbase will convert 14 stablecoin balances on October 30, 2026, including Tether USDt for eligible European users.
Tether said it helped freeze 550 million USD in Iran-linked USDT during 2026.
The Tether USDt price stands at 0.9988 USD as of October 28, 2026.
A Senate review examined 846 Iran-linked wallets on September 28, 2026.

Tether USDt, XCRYPTOUSDT4, Illustration mit AI erstellt.

Tether USDt (USDT) is among 14 stablecoins scheduled for a one-time conversion of remaining European Economic Area retail balances on October 30, 2026, according to CoinMarketCap. The Tether USDt price stands at 0.9988 USD as of October 28, 2026, according to Investing.com.

Coinbase sets an October 30, 2026 conversion

CoinMarketCap reported that Coinbase has restricted buying, selling and converting the affected tokens for retail customers in the European Economic Area. Remaining USDT balances are due to be converted at the market rate into USD Coin where suitable, or into another supported asset, on October 30, 2026.

The measure follows the European Union's Markets in Crypto-Assets Regulation, known as MiCA. The same report said the transition period for stablecoin issuers ended on July 1, 2026, and that customers could withdraw affected assets before the October 30, 2026 deadline. The restriction applies to the Coinbase service for European users, not to every platform or jurisdiction.

Tether cites 550 million USD in 2026 freezes

Tether CEO Paolo Ardoino said on October 19, 2026, that Tether's wallet freezes cut Iran-linked stablecoin volumes by 94 percent, according to Yahoo Finance. The same report said Tether disclosed nearly 550 million USD in Iran-linked USDT freezes during 2026, including more than 344 million USD in April and more than 130 million USD in July.

The figures sit alongside a September 28, 2026 Senate staff report that examined 846 wallets sanctioned or targeted for seizure because of links to Iran and regional proxies, according to Yahoo Finance. The report found that 84 percent of the wallets used USDT exclusively or nearly exclusively, while Tether's 94 percent volume figure was presented as a company claim.

USDT market data on October 28, 2026

The Tether USDt price is 0.9988 USD as of October 28, 2026, according to Investing.com. Its daily high is 0.9996 USD and its daily low for the UTC day is 0.9986 USD. Investing.com lists market capitalization at 182.24 billion USD, rank 3, and 24-hour volume at 54.51 billion USD. Circulating supply is 182.49 billion USDT. As a dollar-pegged stablecoin, USDT's quoted level is read against the 1.00 USD target rather than as a directional percentage move.