The Reserve Bank of Zimbabwe governor, John Mangudya, has filed opposing affidavits in the High Court against an application by Golix to have a ban on their company lifted. The RBZ has maintained that Golix presented a risk to the country.
“It is as a result that the bank (RBZ) directed banks not to deal with the applicant (Bitfinance (Pvt) Ltd) as the latter’s activities were not only unregulated and illegal, but presented all kinds of risk, including but not limited to fraud, money-laundering, evasion of the country’s exchange
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The Golix exchange provided customers a means to trade the fiat currency (money in ordinary Zimbabwe bank accounts) with Bitcoin and other cryptocurrencies. On 12 May the RBZ directed banks to stop dealing with crypto exchanges and subsequently ordered Golix to shut down shortly afterward. Golix applied for a lifting of the ban at the High Court and the judgment defaulted in their favor as the RBZ did not present themselves at court on the day.
More: The Standard
John Panonetsa Mangudya is an economist and the current Reserve Bank of Zimbabwe governor. Mangudya, who sits on many local and international boards .He was made RBZ governor after the expiry of Gideon Gono's term in 2014. He had been CBZ Holdings Ltd Chief Executive... Read More About John Mangudya
The Reserve Bank of Zimbabwe (RBZ) is the central bank of Zimbabwe. Its offices are located at number 80 Samora Machel Avenue in Harare. The Reserve Bank of Zimbabwe operates under the Reserve Bank of Zimbabwe Act, Chapter 22: 15 of 1964. The Act provides... Read More About RBZ
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