Crypto exchange Gemini is preparing to exit the United Kingdom, European Economic Area and Australia, giving customers a tight deadline to sell or withdraw their assets before accounts are closed in April.
The company confirmed that all accounts in the affected regions will be placed into withdrawal-only mode from 5 March 2026, with full account closures scheduled for 6 April 2026. After the March deadline, customers will no longer be able to trade or sell crypto assets on the platform.
This maybe because Gemini has received regulatory approval in the United States to enter the prediction markets space, so it may be focusing on US prediction markets as interest in cryptocurrency in the UK is dwindling as Bitcoin prices fall.
Gemini has advised users to cancel recurring purchases, avoid new deposits, and begin unstaking any staked crypto immediately to avoid delays. Customers with open perpetual futures positions must close them before the withdrawal-only phase begins, or risk positions being force-closed at market prices.
eToro suggested as an alternative cryptocurrency platform
To help customers move funds, Gemini has partnered with social trading platform eToro, offering a transition route and sign-up incentives for some users who transfer assets. However, customers remain free to move funds to any exchange or withdraw crypto to a self-custody wallet and fiat to a bank account.
The exchange has urged customers to act quickly, warning that account verification, bank linking and withdrawal address approvals can take time. In some cases, adding a new crypto withdrawal address may take up to seven days to approve, while unresolved account reviews could limit the ability to withdraw funds before closure.
Gemini also encouraged customers to download transaction histories and statements before their accounts are shut, as access will be removed after closure. Referral and promotional programmes have already been discontinued in the affected regions.
The company stressed that funds provided for payment services are safeguarded under UK and EU e-money rules, but are not covered by deposit protection schemes such as the FSCS.
It’s hardly a surprise, all the cryto platforms I speak to say that the UK market is hard to crack. Gemini’s withdrawal from multiple major markets highlights how saturated the UK markets are for US providers trying to scoop up new customers.
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