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.

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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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