Gemini will close all customer accounts in the UK, European Economic Area (EEA), and Australia, effective 6 April 2026, the US-based cryptocurrency exchange has announced.
The exchange will disable new account creation and incentive programmes in these regions during an initial wind-down phase. From 5 March 2026, existing accounts will enter withdrawal-only mode, preventing customers from executing trades or selling cryptocurrency assets.
Gemini has partnered with eToro to facilitate customer migration, offering signup bonuses for eligible users transferring assets to the alternative platform. Customers may alternatively withdraw assets to external wallets or other cryptocurrency exchanges.
Operational timeline requires user action
Customers should complete several processes before the March withdrawal deadline. Users with staked cryptocurrency assets must initiate unstaking procedures immediately, as some tokens require extended unbonding periods that may extend beyond closure dates. Customers holding perpetual contract positions must close all positions before 5 March 2026, after which Gemini may force-close remaining positions at prevailing market prices.
Account verification requirements apply to withdrawals. Users must ensure accounts are fully verified, bank accounts are confirmed for fiat withdrawals, and cryptocurrency withdrawal addresses are added to approved lists. EU and EEA customers must prove ownership of self-hosted wallets under Travel Rule requirements through attestation processes.
Regulatory landscape shapes market exits
Cryptocurrency exchanges have progressively withdrawn from certain jurisdictions following regulatory developments. Binance restricted services in multiple markets, including the Netherlands and Germany, in 2023. Coinbase ceased operations in Japan in 2023, citing market conditions as the reason for its decision.
Gemini operates as a New York-regulated trust company for cryptocurrency custody and exchange services in the US. The company holds money transmitter licences across US states and previously operated under e-money institution authorisations in European jurisdictions.
Users who fail to withdraw assets by the 6 April 2026 deadline face uncertainty regarding fund access. Gemini has not disclosed procedures for dormant accounts with remaining balances after closure. The exchange recommends downloading transaction histories before account termination, as platform access will cease following closure.
The withdrawal affects markets where Gemini previously offered trading in cryptocurrencies, including Bitcoin, Ethereum, and various altcoins, alongside fiat on-ramps through bank transfers and card payments.
