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
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.
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