Gemini to exit UK, EU, Australia; 25% staff cut
6.7 Regulation Gemini will exit the UK, EU, and Australia, moving accounts to withdrawal-only mode from March 5, 2026, and closing them by April 6. The exit includes a 25% staff reduction due to regulatory challenges.
Gemini, a leading cryptocurrency exchange, has announced its exit from the UK, EU, and Australia due to mounting regulatory pressures. The company will focus its operations on the US and Singapore markets moving forward. Starting March 5, 2026, affected accounts will be placed in withdrawal-only mode, with a complete closure set for April 6, 2026. Customers are urged to withdraw assets, close open positions, and unstake tokens before these deadlines. Gemini is partnering with eToro to facilitate asset transfers, though some users may face a 7-day approval period for new withdrawal addresses. This strategic move will result in a 25% reduction of Gemini’s global workforce—about 200 jobs—and is expected to incur $11 million in restructuring costs. The company emphasizes its commitment to safeguarding user assets and warns customers to remain vigilant against potential scams during the transition.
