Luno will stop serving EU customers and close accounts by September 1, 2026. Crypto transfers out end June 29, as it refocuses on Africa and Southeast Asia.
Crypto exchange Luno says it will exit the European Union and shut down affected EU customer accounts by September 1, 2026. The company says it is shifting focus back to its core markets across Africa and Southeast Asia.
The wind-down is staged. From June 1, EU customers will no longer be able to add funds, buy crypto, receive crypto, or make deposits. Customers can still sell, withdraw, and send crypto during the early stage, but those options narrow over time.
The most important cutoff is June 29, 2026. By that date, users must complete crypto transfers to an external wallet or another exchange. After June 29, users will no longer be able to send crypto out of Luno, and will mainly be limited to selling assets and withdrawing euros to a linked bank account.
The final deadline to withdraw euros to a bank account is August 31, 2026. On September 1, 2026, accounts will be closed and users will lose access to their Luno wallets.
Luno also said recurring buys and pending orders will be cancelled from June 1. Rewards already earned are expected to be released before closure. Small balances below about $10 may not be withdrawable due to minimum transaction limits.
This exit lands as Europe tightens crypto rules under MiCA, the EU’s new crypto-asset framework. MiCA sets requirements for crypto-asset service providers, meaning exchanges may need clearer authorisation, custody rules, and euro payment rails (ways to move money between banks and platforms).
For African founders and operators, the bigger signal is strategic focus. Luno is choosing to concentrate resources on Africa and Southeast Asia rather than fight for EU market share under heavier compliance and product constraints.
For affected users, the risk is simple. Miss the June 29 crypto send deadline, and you may be forced to sell and cash out instead of moving your coins elsewhere.
Primary Source: Crypto Adventure
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