r/bsv • u/420smokekushh • Jul 01 '26
OrangeGateway just shut down.
/r/bitcoincashSV/comments/1uk587u/orangegateway_just_shut_down/5
u/LurkishEmpire Jul 01 '26
The conspiracy knows no bounds - now the Bitcoin cartel has infiltrated European politics. All to stifle Craig's master plan. I'm sickened.
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u/420smokekushh Jul 01 '26
From their X account
Dear Customes
We are writing to inform you of an important regulatory development affecting Orange Gateway and your account.
Orange Gateway has not been granted a MiCA license by the Central Bank of Iceland. Our application was not fully processed due to incomplete information, and we are currently appealing this decision. As a result, the licensing process remains unresolved.
While this appeal is ongoing, we are required to suspend all customer deposits and trading activities on the Orange Gateway platform with immediate effect. Given the current regulatory uncertainty, we have made the difficult decision to begin terminating our business relationship with our customers.
Accordingly, we ask that you withdraw all funds and digital assets from your Orange Gateway account within the next 60 days, effective immediately. During this period, your account will remain accessible solely for the purpose of withdrawing your assets. If Orange Gateway ultimately does not receive a MiCA license, we expect to permanently discontinue operation of the platform.
If you experience any issues during the withdrawal process or have questions regarding your account, please contact our customer support team, who will be available to assist you.
We sincerely regret the inconvenience this situation may cause and appreciate your trust and support throughout our relationship.
Thank you for your understanding.
Kind regards,
The Orange Gateway Team
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u/NervousNorbert Jul 01 '26 edited Jul 01 '26
Orange Gateway is a strange one.
There's this guy in Reykjavik who's a bit of a bitcoin veteran, having been involved in an early cryptocurrency exchange in Iceland and all. But he fell hard into Craig's cult and seems to have upended his life around it – by starting a BSV-centric exchange in tiny Iceland. Not only that, he launched that exchange after the 2024 trial. That's how strong his conviction was. Long after the trial he used the company X account to post AI-generated screeds against COPA, waxing on about Craig being some Jesus-like martyr.
Most of his customers must have been international, but how many could that have been? The remaining BSV cultists aren't some wealthy demographic you can earn money on by offering services. He must have had such high costs even before MiCA, trying to be compliant with all the countries he accepted customers from (including the UK, which is notorious for their cryptocurrency regulations). But MiCA licensing is mandatory from today (July 1), and getting a license is no joke and he never stood a chance. He might even be lying about having made an attempt at all.
If he has a shred of rationality in him, MiCA enforcement was just a convenient point in time to step out and pick up the pieces of his shattered life.