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

Bitcoin (virtual currency) coins placed on Dollar banknotes are seen in this illustration picture, November 6, 2017. REUTERS/Dado Ruvic/Illustration

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.