Luno Restricts Outgoing Crypto Transfers for Regional-Exit Cohort

Crypto platform Luno has restricted outgoing crypto transfers for customers in its regional-exit cohort, forcing them to sell their holdings and withdraw cash by August 31. The company stopped outgoing crypto transfers on June 29, leaving only selling and bank withdrawals as the standard route before accounts close on September 1.

Luno disabled deposits, purchases, and incoming transfers for affected customers starting June 1, but allowed them to sell, bank withdraw, and transfer out until June 29. Customers who missed the deadline can no longer move their crypto in kind; they must convert it to fiat to use Luno's ordinary bank-withdrawal process.

The regional-exit notice was created on May 28 and updated on July 29, but Luno has not publicly disclosed which passages changed or named the affected regions. The company will retain small balances below $10 after account closure and charges a $2 monthly inactivity fee starting September. From December, an additional $50 monthly dormancy fee applies for continued storage.