High Court Lifts RBZ’s Ban On Cryptocurrencies, RBZ Fails To Show Up

(From Left) Verengai Mabika (Golix Co-founder), Fadzai Mahere (lawyer), Taurai Chinyamakobvu (Golix Co-founder), Hopewell Chitima (lawyer), Tawanda Kembo (CEO), William Chui (VP of Miscellaneous Stuff )

 

The High Court has lifted the Reserve Bank of Zimbabwe’s ban on the trading of cryptocurrencies. High Court judge Justice Alphas Chitakunye gave a default judgement in the case after the Reserve Bank of Zimbabwe failed to turn up to defend themselves. Golix had argued that the ban was against Administrative Justice as enshrined in the Constitution of Zimbabwe.

This came after the Reserve Bank of Zimbabwe had written to Golix, Zimbabwe’s first and biggest cryptocurrency exchange instructing them to stop trading in cryptocurrencies.

Golix was represented by Hopewell Chitima and aspiring legislator Fadzayi Mahere.

This is a developing and will be updated as more details come in.

Fadzayi MahereHigh CourtGolix

Fadzayi Mahere is a Zimbabwean lawyer and MDC politician. Prior to joining MDC, she was an independent politician and political activist known for being vocal in her opposition to Zanu-PF governance. She was been one of the most prominent activist of the #ThisFlag Movement in... Read More About Fadzayi Mahere

The High Court of Zimbabwe is one of the Superior Courts of Zimbabwe. The High Court deals at first instance with all high value and high importance cases. It also has a supervisory jurisdiction over all subordinate courts and tribunals. Appeals from the High Court... Read More About High Court

Golix is a Cryptocurrencies exchange in Zimbabwe. Golix was founded in December 2014 and was initially called BitFinance while their exchange was called Bitcoin Fundi. The company was founded by Tawanda Kembo and Verengai Mabika. In May 2018, Golix was ordered to shut down operations... Read More About Golix

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2 comments on “High Court Lifts RBZ’s Ban On Cryptocurrencies, RBZ Fails To Show Up

  1. Congratulations @ GOLIX at law the RBZ’s actions are akin to diving in the centre circle and expecting a referee to award a penalty.

  2. They had no basis to take action against something they don’t have administrative jurisdiction over, forgot to enter my credential on the other post above hence the name Anonymous.

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