Trump Reverses Tack on Election Meddling

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

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

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.

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.

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. 

At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.  

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

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

China Social Media Site Reverses Gay Decision

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…
Newser

First the Moon, then Earth: New theory reverses formation story

Earth’s moon formed inside a cloud of molten rock, and may have done so before our planet itself formed, a new theory suggests.
FOX News

Trump Reverses Obama, Orders Gitmo Kept Open

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…
Newser

Apple Reverses CEO’s Pay Cut

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…
Newser

Appeals Court Reverses Itself on Immigrant Seeking Abortion

In a new twist in the ongoing saga of a 17-year-old’s attempts to get an abortion while being held in a federal immigration shelter, the DC Circuit Court of Appeals ruled Tuesday the Trump administration must stop blocking her from the procedure, Politico reports. A three-judge panel of the court…
Newser

White House Reverses Policy on Campus Sex Assaults

The Trump administration on Friday scrapped Obama-era guidance on investigating campus sexual assault, replacing it with new instructions that allow universities to require higher standards of evidence when handling complaints, the AP reports. Education Secretary Betsy DeVos has said that President Obama’s policy had been unfairly skewed against those accused…
Newser