reverses Archives -
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…
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…
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
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
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.
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.
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.
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.
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 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…
One of China’s top social networking sites announced Monday that it will no longer be censoring content related to gay issues after the plan triggered a loud public outcry. Weibo.com was flooded over the weekend with the hashtags “#I’mGay” and “#I’mGayNotaPervert” after the Twitter-like platform said that cartoons and…
Earth’s moon formed inside a cloud of molten rock, and may have done so before our planet itself formed, a new theory suggests.
President Trump made some tangible news during his State of the Union address Tuesday: He announced that Gitmo is staying open indefinitely. “In the past, we have foolishly released hundreds of dangerous terrorists, only to meet them again on the battlefield,” said the president. With that in mind, he said…
The pay cut that CEO Tim Cook and other Apple execs received after a rare slump in sales last year has been reversed—and then some. According to a Wednesday filing with the Securities and Exchange Commission, a cash bonus for exceeding the board’s sales and profit targets boosted Cook’s…