Exchange Golix has veto of the central bank of Zimbabwe towards cryptocurrencies to the Court

The growing rate of criminal acts, added to the lack of clear legislation, has prompted governments around the world to establish restrictive regulations against trade with cryptocurrencies.

In a struggle to stay in the market, many have resorted to request hearings in demands of better conditions. Similarly, this week, the Zimbabwe exchange house "Golix" revealed its intention to take its case to court, following the Central Bank ban.

After the ban on crypto transactions in banks in the region, the reserve bank ordered Golix to close its operations.

In this sense, Norman Mataruke, an agent of records of the entity exhorted the following thing:

All cryptocurrency exchange houses operating in the country, including Bitfinance (Private) Limited (also known as Golix), must cease all operations in the immediacy. [Likewise] they must take the necessary actions to close the accounts and electronic wallets of their clients.

According to the exchange, the declaration of the banking entity is illegal, since there is no legislation that supports the prohibition of trade with cryptoactives, at least not in the current one.

It should be noted that the request will state the Central Bank's failure to incur interference from the Legislative Assembly, which may be considered an offense against the state regulations.

This is an aggravating problem in the financial panorama of the region, where the authorities have encouraged the use of digital media to reduce cash.

A similar scenario is experienced in India, where the reserve bank restricted trade with digital currencies and prohibited banks from associating with local exchanges.

Now, in an attempt to resolve the situation, the Supreme Court has called a hearing, on July 20, to discuss a maximum of five petitions, among which are several requests from companies focused on the development and commercialization of new digital financial technologies.