Major US crypto exchange Gemini is withdrawing from the UK, European Union, and Australia as part of a strategic pivot to focus on the American market. If you're affected, you need to act fast—and choose your next platform wisely.
On Feb 2 2026, cryptocurrency exchange Gemini announced it will close all customer accounts in the United Kingdom, European Economic Area, and Australia effective April 6, 2026. The move affects thousands of users across these regions and marks a significant shift in the platform's global strategy.
The clock is ticking. Here's what you need to know and where to go next.
Why Is Gemini Leaving These Markets?
In a letter to users, Gemini co-founders Tyler and Cameron Winklevoss outlined their vision for "Gemini 2.0"—a fundamental reorganization around three key pillars:
1. AI-Driven Efficiency
Gemini is dramatically reducing its workforce by roughly 75% since its 2022 peak, citing AI's productivity gains.
2. Prediction Markets
The exchange is pivoting toward prediction markets with its new "Gemini Predictions" product.
3. Geographic Focus on America
Most significantly, Gemini is abandoning international expansion. The Winklevoss twins stated that foreign markets "have proven hard to win in" and create "organizational and operational complexity" that slows them down.
Translation: If you're in Europe or Australia, you're no longer part of their future.
Timeline: What Users Need to Know
Now through March 4, 2026:
- Existing accounts continue operating normally
- No new account creation in affected regions
- Users should avoid making new deposits
- Begin unstaking any staked assets immediately
March 5, 2026:
- All accounts enter "withdrawal-only mode"
- Trading and selling crypto assets will no longer be possible
- Deposits will be disabled
April 6, 2026:
- All accounts permanently closed
- Any remaining assets may be difficult or impossible to recover
Critical Actions Required Now
Immediate Steps
- Unstake assets immediately - Some unbonding periods take weeks
- Verify your account - Ensure full KYC verification is complete
- Update withdrawal addresses - Approval can take up to 7 days (EU/AU Withdrawal Protection, UK Approved Addresses)
- EU users: Prove wallet ownership - Complete self-custody wallet attestations before March 5
- Verify bank accounts - Ensure your bank is verified for fiat withdrawals
Before March 5, 2026
- Sell any crypto you cannot or don't want to withdraw
- Cancel recurring orders
- Close all perpetual positions (may be force-liquidated otherwise)
- Complete pending deposit attestations (EU and UK)
- Choose your next crypto platform
Finding Your Next Crypto Platform: Don't Settle
Gemini has partnered with eToro to facilitate transfers. But here's the reality: you have dozens of better options, and choosing the right platform for your needs is crucial.
Understanding Your Options
When choosing your next platform, you'll need to decide between:
Local vs International Exchanges
- Local exchanges: Regulated in your country, local currency support, local bank transfers
- International exchanges: Larger selection, higher liquidity, more trading pairs
Broker vs Exchange
- Crypto brokers: Simple buying/selling, fixed prices, beginner-friendly
- Crypto exchanges: Order books, market/limit orders, lower fees for active traders
Custodial vs Non-Custodial Solutions
- Custodial exchanges: Platform holds your keys, easier to use, supports trading
- Non-custodial wallets: You control your keys, maximum security, no trading
Most Well-Known International Exchanges
If you're looking for established global platforms, these are the industry leaders operating in Europe and Australia:
- Kraken - Strong European presence, excellent security track record
- Bitstamp - Luxembourg-based, EU-regulated since 2016 (part of Robinhood)
- Binance - Largest global exchange by volume (regulatory status varies by country)
- Coinbase - US-based with European operations, publicly traded
- OKX - Major international platform, strong derivatives offering
Innovative Alternative: Non-Custodial Wallets in Neobanks
A newer option worth considering: non-custodial wallets integrated into neobanks like Deblock.
These platforms combine:
- Traditional banking features (IBAN, debit card)
- Non-custodial crypto wallet (you control your private keys)
- Seamless fiat-to-crypto conversions
- Application mobile conviviale
Advantage: True ownership of your crypto while maintaining easy access to traditional banking services.
👉 Compare all these options and more
What to Look for in Your Next Platform
When comparing alternatives, prioritize:
1. Regulatory Compliance
- Licensed in UK, EU, or Australia?
- MiCA compliant (EU), FCA registered (UK), AUSTRAC compliant (Australia)?
2. Fees
- Trading fees (maker/taker rates)
- Withdrawal fees (crypto and fiat)
- Deposit methods and costs
3. Cryptocurrency Support
- Does it support all coins you currently hold?
- Availability of staking for your assets?
4. Security
- Cold storage practices
- Insurance coverage
- Authentification à deux facteurs
- Company track record
Find detailed comparisons of 50+ platforms →
What Gemini's Exit Reveals About the Industry
This withdrawal highlights several critical trends:
Regulatory Complexity
Operating across multiple jurisdictions with frameworks like MiCA (Europe), FCA (UK), and AUSTRAC (Australia) creates compliance costs that mid-tier exchanges struggle to justify.
Market Consolidation
The crypto landscape is consolidating around dominant global players and strong regional specialists. This is actually good news for users—the platforms staying in European markets are doubling down on compliance and local service.
Platform Risk Is Real
Even established exchanges can exit markets or cease operations. Diversification across platforms and self-custody options isn't paranoia—it's prudent risk management.
Your Action Plan: 3 Steps to Safety
Step 1: Secure Your Gemini Assets (This Week)
- Start unstaking process immediately
- Verify account and withdrawal addresses
- Decide: sell for fiat or transfer crypto?
Step 2: Research Your Next Platform (By Mid-February)
Browse our complete platform comparison and shortlist 2-3 options that match your needs.
Consider:
- Your trading frequency
- Cryptocurrency portfolio composition
- Preferred payment methods
- Country-specific requirements
Step 3: Execute Your Move (Before March 5)
- Open and verify accounts on chosen platform(s)
- Test with small withdrawal first
- Transfer remaining assets
- Consider splitting holdings across multiple platforms for safety
Don't Wait, Don't Settle
With withdrawal-only mode beginning March 5 and final closure April 6, you have less than 8 weeks to make informed decisions.
Gemini is directing users to eToro, but that doesn't mean it's the best option for you. The crypto ecosystem offers diverse platforms with different strengths, fees, and features.
Take control of your choice:
🔍 Explore 50+ crypto platforms compared side-by-side
Whether you need:
- Established exchanges (Kraken, Bitstamp, Coinbase, OKX)
- Local regulated platforms for your country
- Crypto brokers for simple buying/selling
- Non-custodial solutions (like Deblock)
- Hardware wallets for long-term holding
...you'll find detailed comparisons to help you decide.
The Silver Lining
While Gemini's exit is disruptive, it's an opportunity to reassess your crypto strategy. Many users discover better platforms with lower fees, more features, or superior security when forced to switch.
The European and Australian crypto markets remain vibrant, with multiple well-regulated, secure platforms competing for your business. You have options—and leverage.