Zimbabwe: Cryptocurrencies Ban - RBZ Dragged to Court

The Reserve Bank of Zimbabwe (RBZ) and its governor John Mangudya have been taken to court by a local cryptocurrency exchange dealer, Bitfinance (Pvt) Ltd trading as Golix, which is seeking an order to nullify the recent pronouncement by the central bank banning all transactions in digital currencies.

Bitfinance deputy chief executive officer William Chui filed an urgent chamber application on Monday, arguing that the RBZ has no jurisdiction to effect the ban given that cryptocurrency transactions are not regulated by the central bank, which simply regulates the banking sector and the country's currency.

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