Tokenized gold: PAXG lacks MiCA approval, what to check before October 30

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Coinbase is ending support for 14 tokens in the European Economic Area, among them the gold token PAXG. The reason lies in a MiCA category in which not one issuer has been authorized since June 2024.Anyone holding tokenized gold through a European exchange is losing that position right now: Coinbase is ending support for 14 tokens for retail customers in the European Economic Area, and alongside the familiar dollar stablecoins that list also carries PAXG. The cut-off date is October 30. Whatever is left in the account after that, the exchange converts into USDC on its own initiative, so into a dollar token. A claim on gold turns into a claim on dollars, and the holder does nothing to bring it about. The reason sits in the rulebook rather than at the exchange. Under the EU's MiCA regulation, gold tokens fall into a category of their own, and to this day not one issuer holds an authorization in that category. This article sets out what PAX Gold actually is, why a gold bar becomes ...