Catenaa, Tuesday, February 10, 2026- Crypto exchange Gemini said it will shut down operations in the UK, Europe and Australia, placing UK customer accounts into withdrawal-only mode as regulators tighten oversight of digital asset firms.
In a notice to users, the company said UK operations will formally end April 6, with accounts restricted from March 5.
Trading and new deposits will stop on that date. Customers must liquidate crypto holdings into fiat before March 5 and complete all crypto and fiat withdrawals by April 6.
Gemini advised users to move assets to external wallets or offboard through partner platforms.
The company said it has partnered with eToro to help facilitate transfers and urged customers to cancel recurring orders and begin unstaking assets. It also warned users to watch for scams during the transition, noting that company staff will not contact customers by phone or text.
The exchange is also winding down activity across the European Union and Australia as it narrows its geographic footprint.
Reuters reported the company has approved a plan to cut up to 200 jobs globally and focus operations on the US and Singapore. The reductions affect roughly a quarter of Gemini’s workforce.
Gemini’s exit follows the UK’s move from an interim crypto registration regime to full authorization under the Financial Services and Markets Act.
The framework raises expectations around governance, operational resilience and senior management accountability. Several global crypto firms have reassessed their presence as ongoing supervision replaces temporary approvals.
