Golix Exchange Wins Court Case Against RBZ Over Ban on Trading of Cryptocurrency

Golix Exchange Wins Court Case Against RBZ Over Ban on Trading of Cryptocurrency

Cryptocurrency Exchange News
May 25, 2018 by Sandra Onyeiwu
1593
The High Court has reversed the ban imposed by the Reserve Bank of Zimbabwe on the trading of cryptocurrencies. 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. Also Read: Golix Filed Lawsuit against Reserve Bank of Zimbabwe over
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The High Court has reversed the ban imposed by the Reserve Bank of Zimbabwe on the trading of cryptocurrencies.

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.

Also Read: Golix Filed Lawsuit against Reserve Bank of Zimbabwe over Cryptocurrency Ban

This sparked a legal battle in which Golix went to the High Court and filed an urgent chamber application for the RBZ ban to be lifted. Saying the bank’s ban of cryptocurrency trading was unconstitutional as there are no laws that empower it to make such legislative moves.

High Court judge Justice Alphas Chitakunye gave a default judgment in the case after the Reserve Bank of Zimbabwe failed to turn up to defend themselves.

Golix was represented by Hopewell Chitima and aspiring legislator Fadzayi Mahere. Read more about the case.

 

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