BXM Operations AG, a company associated with the crypto derivatives exchange BitMEX, and the German bank Bankhaus von der Heydt (BVDH), have agreed to cancel the acquisition of the latter, Finanz-szene reports.
The purchase agreement, which was signed in January, was supposed to be completed after the approval of the BaFin in the middle of the year. According to a source:
“Both parties have decided not to proceed with the planned takeover.”
The reason for the cancellation of the agreement has not been made public.
The regulator might have given an informal signal that it was not satisfied with the crypto derivatives exchange behind BXM Operations AG and registered in the Seychelles, although the transaction was not officially rejected.