Luno To Shut EU Accounts As Exchange Retreats To Africa And Southeast Asia

Luno will stop providing services to customers in the European Union and close affected accounts on September 1, 2026, as the exchange shifts focus back to core markets across Africa and Southeast Asia.

The exchange has already set a staged wind-down for affected users. From June 1, customers will no longer be able to add new funds, buy crypto, receive crypto, or make deposits. Selling, withdrawals, and crypto sends remain available during the first stage, but only for a limited period.

The decision gives EU customers a narrow window to move assets before wallet access disappears. Luno accounts will remain usable mainly for returning funds, sending crypto out, selling holdings, and withdrawing euros to a linked bank account before the final closure date.

Deadlines For EU Customers

Luno’s deadline schedule gives users three main cutoffs. Crypto transfers to an external wallet or another exchange must be completed by June 29, 2026. After that date, users will no longer be able to send crypto out of Luno and will only be able to sell assets and withdraw fiat to a bank account.

The final bank withdrawal deadline is August 31, 2026. Customers who still hold crypto after the sending deadline will need to sell through Luno and withdraw euros before that date. On September 1, accounts will be closed and users will no longer have access to their Luno wallets.

Luno also warned that recurring buys and pending orders will be cancelled from June 1. Rewards already earned are expected to be released before account closure, while small balances below the equivalent of $10 may not be withdrawable due to minimum transaction thresholds.

EU Exchange Market Keeps Tightening

The exit lands during a stricter phase for European crypto platforms. The EU’s MiCA framework has changed how exchanges, custodians, brokers, and other crypto-asset service providers operate across the bloc. ESMA’s April statement on the end of MiCA transitional periods puts July 1, 2026, as the point after which customers should verify whether a provider is authorised under the new regime.

That does not automatically mean Luno’s EU exit is caused by MiCA alone. Luno’s customer guidance frames the move around a strategic focus on Africa and Southeast Asia. The timing still places the wind-down inside the same period when EU users are being pushed toward platforms with clearer local authorisation, euro withdrawal routes, and product availability under MiCA.

For EU users comparing alternatives, the practical checklist has become stricter. Exchange choice now depends on MiCA status, EUR rails, SEPA support, withdrawal reliability, custody terms, asset availability, and whether the platform serves the customer’s country directly. The European market already favors platforms built around clearer regulatory coverage, as reflected in the current EU crypto exchange landscape.

Users Need To Move Before Access Ends

The most important action for affected Luno customers is to decide whether to keep holding crypto elsewhere or exit into euros. Users who want to keep crypto should send assets to a supported wallet or exchange before June 29, checking the receiving address, asset type, and blockchain network carefully before making a large transfer.

Users who prefer fiat should sell crypto and withdraw to a verified bank account before August 31. Anyone moving to another centralized platform should compare withdrawal rules, local support, account verification, fee schedules, and custody risk before transferring assets. A broader crypto exchange safety checklist remains useful because the wrong platform choice can create new withdrawal, fee, or access problems after leaving Luno.

The fixed dates now define the process: no new funds from June 1, final crypto sends by June 29, final bank withdrawals by August 31, and account closure on September 1, 2026.

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