Regulation of Crypto products for Germany, Austria and Switzerland From Bitmex Exchange By Mid 2022

Regulation of Crypto products for Germany, Austria and Switzerland From Bitmex Exchange By Mid 2022

Bitmex is buying the assets of a German bank to create an regulated crypto-powered powerhouse. The new company will offer crypto-related products to Germany, Austria, and Switzerland via an unified central point.

The cryptocurrency exchange Bitmex announced that it signed a purchase contract with Bankhaus von der Heydt, an institution that is a German bank, with its headquarters located in Munichin Munich. It was acquired and controlled by BXM Operations AG, a company founded in the year 2000 by Bitmex CFO/CEO Alexander Hoptner and CFO Stephan Lutz.

Bitmex tweeted Tuesday:

One step is taken towards having an regulated crypto-powered powerhouse in the middle of Europe through the purchase agreement between BXM Operations of German bank Bankhaus von der Heydt.

“Bitmex Group is working towards its ambitious aim of establishing an online store for all regulated crypto-related items across Germany, Austria, and Switzerland and, in turn, becoming an important competitor in Europe,” the announcement includes.

The exchange has recently introduced a cryptocurrency brokerage service in Switzerland. “The deal to acquire Bankhaus von der Heydt is the next step for this group’s European expansion and development of products,” the company added.

the two parties have entered into an agreement for purchase. share financial information related to or relating to the transaction.

The deal is subject to the approval by BaFin The German financial services regulator. The transaction is expected be completed by mid-2022. “Once it is completed the bank will be run as a distinct company,” it states in its announcement.

Bitmex’s CFO expressed his views and commented: “Germany, as the largest economy in Europerules of law, which makes it the ideal place to expand Bitmex’s operations into Europe. 

The HTML0 token was launched earlier this month. Bitmex has announced the official launch date for their BMEX token, which is a collaboration between them and Tokeny. The token, however, “BMEX will not be traded or withdrawable until the time that Bitmex’s Spot launches in the Q2” The exchange is noted, stated or announced.

In October the year of its CEO, Bitmex said that by the end of the calendar year “we’ll find at most five nations that will accept bitcoin’s legal tender as bitcoin. The majority of them will be developing nations. 

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