Gemini Exchange to Close Overseas Markets by 2026
In a strategic move amid a challenging crypto environment, Gemini, a leading cryptocurrency exchange, has announced plans to withdraw operations from the United Kingdom, the European Union, and Australia. Starting March 5, 2026, Gemini accounts in these regions will enter ‘withdrawal-only’ mode, with full closures scheduled for April 6, 2026.
What Does ‘Withdrawal-Only’ Mean?
From March 5, 2026, users will no longer be able to trade or open new accounts. Instead, they can only withdraw funds or transfer crypto assets to self-custody wallets or other platforms. Gemini has also halted referral and promotional programs in the affected jurisdictions.
Why is Gemini Exiting These Markets?
Two major factors—market conditions and regulatory challenges—have prompted Gemini’s decision. With crypto prices and trading volumes at a low point, international operations have become less profitable. Simultaneously, increasing regulatory complexities in Europe, the UK, and Australia require more investment in compliance, making overseas expansions costly and operationally risky for U.S.-based exchanges.
What Should Gemini Customers Do?
- Withdraw Assets Early: Gemini advises users to initiate withdrawals before the March 5 deadline, as identity-verification checks and fund approvals could take several days to process.
- Download Transaction Histories: Safeguard records for any future tax or legal purposes.
- Check Open Positions: Review any staking or trading arrangements to ensure they don’t complicate withdrawal processes.
- Consider Alternatives: Gemini plans to provide transition routes, such as referrals to partner platforms, but users should research ideal alternatives. Options like Coinbase or Kraken can help ensure continuity.
Regulatory and Market Impacts
Gemini’s withdrawal follows stricter anti-money laundering and payment-services rules in the affected regions. This decision underscores how international compliance becomes increasingly onerous during bearish crypto cycles. Investors and users should monitor announcements from regulators like the UK FCA or EU authorities for further updates on the situation.
Will Gemini Refocus on U.S. Markets?
Gemini’s exit from these markets may indicate a shift toward prioritizing its U.S. operations. Investors will be watching closely for updates from Gemini’s investor relations team to understand whether this pullback is temporary or part of a broader retreat strategy.
Preparing for the Transition
Gemini customers must act swiftly to safeguard their investments. By initiating withdrawals early, downloading transaction records, and researching alternative exchanges, users can minimize potential disruptions during this period of change. Products like the Ledger Nano X Hardware Wallet offer a reliable self-custody option for storing cryptocurrencies securely.
