Luno, a cryptocurrency exchange, has halted crypto transfers for customers in several regions, requiring them to sell holdings and withdraw cash by August 31 before account closure on September 1.

The restrictions took effect on June 1 when Luno disabled deposits, crypto purchases and incoming transfers for affected customers. Outgoing transfers and bank withdrawals remained available until June 29, after which only the sale of holdings and subsequent cash withdrawal were permitted.

Customers whose crypto balances are below the equivalent of $10 cannot meet Luno’s minimum withdrawal threshold and will have those balances retained after the accounts close on September 1. Those with balances above $10 may request a manual withdrawal by providing verified bank details or a recent bank statement; the process takes three to five business days and does not extend account access. The notice states that after closure, a $2 monthly inactivity fee will apply, rising to a $50 monthly dormancy fee from December, for a total of $52 per month.

Luno’s regional‑exit guidance, drafted on May 28 and updated on July 29, lists Kenya, Nigeria, South Africa, Indonesia and Malaysia as supported jurisdictions and 33 unsupported countries. The company has not disclosed how many customers are affected, nor has it identified the specific jurisdictions subject to the notice. Luno said it is withdrawing from the affected regions to concentrate on core markets across Africa and Southeast Asia, and it has not linked the decision to insolvency, a security breach or a specific regulatory order.

The measure follows similar actions by other exchanges as regulators in the United Kingdom prepare new rules for crypto firms. Customers have until August 31 to complete the required sale and withdrawal, after which wallet access ends on September 2 and accounts are closed on September 1.