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| October 16, 2019

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In Surprise, Trump Reverses Sanctions on North Korea

March 22, 2019 |

President is reversing his administration’s decision to slap new sanctions on North Korea and ordering them withdrawn. White House Press Secretary Sarah Sanders says Trump “likes Chairman Kim and he doesn’t think these sanctions will be necessary,” per the AP . Trump himself addressed the move on Twitter : “It was announced…
Newser

Walmart Reverses ‘Major-League Botch’

March 11, 2019 |

Walmart endured more than a week’s worth of bad publicity before announcing publicly that it was making “every effort” to find a role for disabled workers who had been threatened with job loss as the retailer gets rid of greeters at 1,000 stores. Amid a fierce backlash, Greg Foran,…
Newser

Deutsche Bank reverses pledge to help distressed homeowners

February 16, 2019 |

Deutsche Bank has decided that none of the more than $ 4 billion it promised to spend on consumer relief after the global mortgage crisis will go to distressed U.S. homeowners, according to a report by the monitor of the 2017 settlement.

Instead, the consumer-relief money will be spent on originating…


L.A. Times – Business

Rome Mayor Quickly Reverses Plan to Keep Fountain Coins

January 14, 2019 |

The proper way to toss a coin into Rome’s famed Trevi fountain is to do so over your shoulder. Just don’t think about what happens after that, because it’s apparently quite the touchy subject. The city of Rome has traditionally given the tossed coins—they add up to about $ 1….
Newser

International Trade Commission decision reverses Trump tariffs on newsprint

August 30, 2018 |

The U.S. International Trade Commission ruled Wednesday that imports of Canadian newsprint do not threaten or materially harm the U.S. newsprint industry, a decision that reverses tariffs put in place by the Trump administration this year.

The commission’s 5-0 ruling comes after the Commerce Department…


L.A. Times – Business

American Airlines Reverses Unpopular Carry-On Bag Policy

July 26, 2018 |

American Airlines last year introduced basic economy tickets that did not allow fliers to bring carry-on luggage, but the airline has now announced a reversal of that decision. Starting in September, customers who purchase basic economy fares will be allowed to bring a free carry-on bag, Dallas News reports; as…
Newser

Trump Reverses Tack on Election Meddling

July 18, 2018 |

President Donald Trump said he has “full faith” in U.S. intelligence services and accepts that Russia meddled in the 2016 elections, reversing course from his remarks alongside Vladimir Putin Monday after a barrage of criticism that he failed to stand up to the Russian president.
WSJ.com: What’s News Asia

Yuan Reverses Course, Rises Against Dollar

July 4, 2018 |

The Chinese currency surged against the dollar on Wednesday, continuing a recovery that began the previous afternoon after China’s central bank chief pledged to keep the exchange rate “basically stable.”
WSJ.com: What’s News Asia

Zimbabwe High Court Reverses Central Bank’s Cryptocurrency Ban

May 24, 2018 |

Zimbabwe High Court Reverses Central Bank's Cryptocurrency Ban

Just recently news.Bitcoin.com reported on the Zimbabwe-based exchange Golix filing a lawsuit over the recent Reserve Bank of Zimbabwe (RBZ) ‘cryptocurrency ban’ that was issued in a financial guidance circular earlier this month. Now, according to numerous regional reports, the Zimbabwe High Court has ruled in favor of the trading platform’s argument because the RBZ failed to show up to the trial.  

Also read: India’s Supreme Court Keeps Ban on Banks’ Crypto Services, For Now

Harare High Court Reverses RBZ Cryptocurrency Ban

Multiple regional news outlets and individuals on social media have reported that the Zimbabwe High Court has lifted the RBZ ban against cryptocurrency activities taking place within the country. The local digital asset exchange Golix decided to take the case to the High Court stating the RBZ had no right to enforce such laws and only the country’s parliament can issue a financial ban.

Zimbabwe High Court Reverses Central Bank's Cryptocurrency Ban

After the bank issued its Circular to Banking Institutions No. 2/2018: Virtual Currencies, many people thought the central bank effectively banned all cryptocurrency activities. Today, Golix and its legal team managed to get High Court judge Justice Alphas Chitakunye to overturn the ban.

On May 24 one of the legal team members, and a constitutional lawyer, Fadzayi Mahere, announced the victory to her Twitter followers stating:

RBZ ban on cryptos lifted by the High Court. Administrative justice is alive and well in this jurisdiction. Section 68 of the Constitution is our best friend.

Zimbabwe High Court Reverses Central Bank's Cryptocurrency Ban
The legal team fighting against the recent RBZ ruling in Zimbabwe.

Reserve Bank of Zimbabwe Representatives Fail to Attend Harare High Court Trial

Alongside Fadzayi Mahere, the Golix team was represented by another attorney named Hopewell Chitima. The legal team used Section 68 of the country’s constitution but no representatives from the RBZ showed up to the trial. Regional reports state that because of this action, the Harare High Court justice ruled in favor of the Golix team. High Court judge Alphas Chitakunye’s ruling states:

The ban issued by the Respondents [RBZ] through letter dated 15 May 2018 against Applicant directing it to cease operations, shut down its virtual currency exchange business and ordering the closure of its bank account with its banks is hereby reversed and set aside.

At the time of publication, there have been no statements made by the RBZ, the central bank’s registrar Norman Mataruke, or the RBZ governor, John Mangudya.

What do you think about the High Court lifting the RBZ ban? Do you think the central bank will respond to this ruling? Let us know your thoughts in the comments below.


Images via Fadzayi Mahere’s Twitter page, Shutterstock, and Pixabay. 


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The post Zimbabwe High Court Reverses Central Bank’s Cryptocurrency Ban appeared first on Bitcoin News.

Bitcoin News

Court Reverses Itself in Kennedy Clan Murder Case

May 5, 2018 |

The infamous murder case involving Kennedy cousin Michael Skakel has just taken another, and perhaps final, turn. Connecticut’s Supreme Court on Friday vacated his murder conviction in the 1975 slaying of neighbor Martha Moxley, ruling 4-3 that his defense team did a lousy job representing him, reports the Hartford Courant…
Newser