The ban imposed by the RBZ directed, amongst other things, that Golix cease its operations and shut down its virtual currency exchange.
Golix accordingly launched urgent court proceedings seeking to challenge the ban. As the RBZ did not appear in court on the day, the Harare High Court granted a provisional order by way of default judgment in favour of Golix.
The provisional order reads as follows:
The provisional order is accessible here.
For more on the RBZ’s Circular to Banking Institutions No. 2/2018: Virtual Currencies, read our advisory note here.
Please note: The information contained in this note is for general guidance on matters of interest, and does not constitute legal advice. For any enquiries, please contact us at [email protected].