Two major exchanges announce their withdrawal from the French and European market in 2026. Decryption of a regulatory earthquake which is redistributing the cards of crypto trading in France.
In brief
- Bitget (March 31, 2026) and Gemini (April 6, 2026) are leaving France and Europe respectively, unable to adapt their model to the requirements of the MiCA regulation.
- MiCA imposes strict standards (governance, segregation of funds, reporting, reserves), causing a major sorting between compliant platforms and offshore players.
- Kraken and Binance strengthen their position in the European market, with a strategic advantage for Kraken in regulated derivatives products.
Bitget and Gemini: Two resounding departures from the French market
Bitget bows out on March 31, 2026
Bitget (120 million users) announced in January 2026 the complete closure for French residents: registrations prohibited since January 16, withdrawal mode only on March 16, definitive closure on March 31, 2026.
Featured on the AMF blacklist since November 2023 due to PSAN default, Bitget has not been able to adapt its economic model based on highly leveraged derivatives to MiCA requirements.
Gemini abandons all of Europe on April 6, 2026
Gemini (Winklevoss brothers) gives up UK, EU and Australia THE April 6, 2026with 25% layoffs (200 positions) after 159.5 million losses in Q4 2025.
Accounts in withdrawal only from March 5. Gemini bets on United States, Singapore and Prediction Markets (Gemini Predictions), estimating that “America has always been where it’s at for Gemini”.
MiCA: The regulatory turning point that changes everything
What is MiCA?
Mica (Markets in Crypto-Assets) is the European regulation aimed at harmonize the rules applicable to crypto-assets throughout the European Union. Coming into force in 2024, it imposes strict requirements:
- Strengthened governance and total transparency
- Segregation of funds customers required
- Increased consumer protection
- Regular reporting to regulatory authorities
- Sufficient reserves for stablecoin issuers
For many international exchanges like Bitget and Gemini, these requirements represent a major cost and strategic constraint that their economic models cannot absorb.
Selective sorting of the market
The MiCA regulation operates a selective sorting in the European crypto ecosystem:
The winners : well-capitalized exchanges, with solid compliance infrastructures and ready to invest massively in regulation (Kraken, Coinbase, Binance).
The losers : offshore platforms, exchanges focused on high-risk derivative products, players who do not have the resources to comply (Bitget, Gemini, KuCoin).
Urgent actions for users
Bitget (before 03/31/26) : close positions, withdraw all, transfer to Kraken/Binance/Coinbase, download history. ⚠️ Assets >10 USDC not withdrawn = third-party platform (complex recovery).
Gemini (before 04/06/26) : unstake immediately (long periods), withdraw in full, save history. Gemini offers eToro but you are free.
Alternatives regulated in France
If you are looking for a legal platform in France after the departure of Bitget and Gemini, here are the main options:
| Exchange | Status | Strengths | Boundaries |
| Kraken | PSAN + MiCA + MiFID | Legal futures, very liquid, regulated | Pro interface for beginners |
| Binance | PSAN + MiCA | 600+ cryptos, low fees | Futures banned in France |
| Swissborg | PSAN + MiCA | Very secure, beginners | High fees, limited catalog |
| Bybit EU | PSAN | Crypto card, cashback | Limited staking in Europe |
Kraken clearly stands out as the most complete choice for European traders, in particular thanks to its regulated Futures.
Kraken, big winner of the MiCA revolution?
The double departure of Bitget (March 31, 2026) and Gemini (April 6, 2026) of the French and European market marks a historical turning point in the crypto industry.
While some exchanges capitulate to MiCA's regulatory requirements, Kraken consolidates its dominance thanks to a unique regulatory triptych: MiCA + MiFID + EMI.
Monopolistic position on Futures
Kraken is now the only exchange to legally offer crypto derivatives products in Europe, a considerable competitive advantage against Binance, Coinbase and other players limited to spot.
European commitment
With its MiCA license issued by the prestigious Central Bank of Ireland and its historic presence since 2013 (first BTC/EUR pair), Kraken demonstrates a long term commitment towards the European market.
For the French and European tradersthe message is clear: MiCA regulation redistributes the cards, and only the strongest players survive. Kraken emerges as the obvious choice for secure, compliant and complete crypto trading in 2026.
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