Gemini to exit the UK market
09 February 2026 UK
Image: PixelsHunter/adobe.stock.com
Gemini, an American cryptocurrency exchange and custodian that operates in the UK through its affiliates, Gemini Intergalactic UK (GIUK) and Gemini Payments (GPUK), has announced it is closing all customer accounts in the UK from 6 April 2026.
Gemini Intergalactic UK offers cryptoasset products and Gemini Payments is authorised by the UK Financial Conduct Authority (FCA) to issue electronic money and provide payment services in the UK.
GIUK’s activities are not regulated by the FCA, although the authority oversees compliance in accordance with UK anti-money laundering regulations.
On 5 February 2026, GIUK, and GPUK confirmed their plan to exit the UK market.
Effective 6 April 2026, Gemini will close all customer accounts in the UK, in a phased wind-down exercise.
Customers can continue using their accounts without disruption until 4 March 2026.
All customer accounts will be placed in ‘withdrawal-only’ the proceeding day.
As cryptoasset activities are not regulated, they are not covered by the Financial Services Compensation Scheme (FSCS).
Cryptoassets will come under FCA regulation in October 2027.
Gemini Intergalactic UK offers cryptoasset products and Gemini Payments is authorised by the UK Financial Conduct Authority (FCA) to issue electronic money and provide payment services in the UK.
GIUK’s activities are not regulated by the FCA, although the authority oversees compliance in accordance with UK anti-money laundering regulations.
On 5 February 2026, GIUK, and GPUK confirmed their plan to exit the UK market.
Effective 6 April 2026, Gemini will close all customer accounts in the UK, in a phased wind-down exercise.
Customers can continue using their accounts without disruption until 4 March 2026.
All customer accounts will be placed in ‘withdrawal-only’ the proceeding day.
As cryptoasset activities are not regulated, they are not covered by the Financial Services Compensation Scheme (FSCS).
Cryptoassets will come under FCA regulation in October 2027.
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
