Crypto exchange Gemini is closing its operations in the UK, European Union, and Australia, urging customers to withdraw funds before April 2026.
Key Takeaways
- Gemini accounts in the UK, EU, and Australia will enter withdrawal-only mode on March 5, 2026.
- All impacted accounts will be fully closed by April 6, 2026.
- Users must withdraw funds, cancel recurring purchases, and close futures positions.
- The move follows Gemini’s regulatory approval to enter US prediction markets.
What Happened?
Gemini, the New York-based crypto exchange founded by the Winklevoss twins, has announced plans to shut down services for customers in the United Kingdom, the European Union, and Australia. The company is giving users a narrow window to exit the platform before account access is terminated.
Starting March 5, 2026, customer accounts in the affected regions will be placed in withdrawal-only mode, disabling all trading, buying, or new activity. The final date for account closure is set for April 6, 2026.
BREAKING 📢 – @Gemini Crypto Exchange to Cease Operations in United Kingdom and lans to close all customer accounts in the UK, European Union and Australia.#cryptonews #Geminicrypto #unitedkingdom pic.twitter.com/8yGSKY3UDs
— CoinLaw (@coinlaw_io) February 5, 2026
Gemini Begins Global Wind-Down Outside the US
In an official support notice, Gemini detailed the timeline and customer instructions for the shutdown. Users in the UK, EU, and Australia will no longer be able to create new accounts, and all incentive programs will be deactivated in these markets.
The company is urging customers to take the following steps before the deadline:
- Cancel any recurring crypto purchases.
- Avoid sending new deposits to their Gemini wallets.
- Begin unstaking any staked assets immediately.
- Manually close open perpetual futures positions to avoid forced liquidation at market prices.
Failure to act before the March cutoff may result in asset loss, trading limitations, or delayed withdrawals as account access will be significantly restricted.
Why Is Gemini Leaving?
While Gemini has not provided a detailed explanation for its international exit, one possible reason is its recent regulatory approval in the United States to enter the prediction markets space. This strategic shift suggests the company may be realigning its focus on new business opportunities within its home market.
Another contributing factor may be declining interest in cryptocurrency in the UK and Europe, especially amid ongoing market volatility and falling Bitcoin prices.
This move marks a broader trend of US-based crypto platforms scaling back global operations in response to tightening regulations and shifting market conditions abroad.
CoinLaw’s Takeaway
Honestly, this feels like a big signal of how fast things change in crypto. In my experience, when an exchange exits not just one, but several major regions, it’s about strategy, not just regulation. Gemini is clearly doubling down on its US business, possibly seeing more long-term opportunity there now that it has regulatory clarity on entering prediction markets.
But it leaves a lot of customers in the lurch. The short notice adds pressure, especially for staked assets and futures traders. If you’re impacted, move fast. This isn’t a drill, and once those April deadlines pass, recovery options could be limited or slow. It’s a strong reminder: in crypto, always stay alert to regional compliance and policy shifts, even with big-name platforms.
