Gemini Exits UK, EU, and Australia in Strategic U.S. Pivot

Gemini confirmed a strategic restructuring that will see the exchange exit the United Kingdom, the European Union, and Australia, while refocusing its operations entirely on the United States. Alongside the geographic pullback, the company will reduce its global workforce by 25%, marking its largest round of layoffs to date.

The timing of this decision matters more than the headline itself. Announced on February 5, 2026, the move comes just as Europe’s crypto framework is entering its enforcement phase, not its transition period, changing the cost–benefit calculus for exchanges operating across multiple jurisdictions.

Regulatory Pressure Drives Geographic Retrenchment

According to co-founder Cameron Winklevoss, the decision was shaped primarily by regulatory complexity in the UK and EU. Gemini will abandon its efforts to secure authorization under the European Union’s Markets in Crypto-Assets framework, formally ending its MiCA licensing pursuit.

Rather than maintaining parallel compliance structures across regions with diverging regulatory expectations, the exchange is choosing to consolidate around a single jurisdiction where it sees improving regulatory coherence. Gemini characterized the U.S. environment as entering a “renewed era of regulatory clarity,” citing recent administrative changes as a turning point for domestic crypto oversight.

Refocus on the U.S. and a New Product Direction

With international operations scaled back, Gemini plans to concentrate capital and development resources on its home market. A central element of this repositioning, internally referred to as “Gemini 2.0,” is the launch of a decentralized prediction market platform.

The new vertical would place Gemini in direct competition with platforms such as Polymarket, signaling a shift beyond spot and derivatives trading into event-based, on-chain markets. The company indicated that new U.S.-focused product launches, including the prediction market, are targeted for Q3 2026.

What This Means for Affected Users

Gemini outlined a clear wind-down schedule for customers outside the United States:

• Trading disabled: Expected by March 15, 2026, for users in the UK, EU, and Australia
• Final withdrawal deadline: May 1, 2026

The exchange stated it will work directly with institutional clients in these regions to manage orderly transitions, while retail users are expected to withdraw assets before the cutoff date.

For U.S.-based customers, operations remain unchanged. Gemini emphasized that existing services will continue uninterrupted, with additional products planned as part of its domestic expansion.

Taken together, the move reflects a broader industry trend: exchanges are increasingly choosing regulatory concentration over global presence. In Gemini’s case, the decision prioritizes depth in a single jurisdiction over breadth across multiple, increasingly rigid regulatory regimes.

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