The High Court has reversed the ban imposed by the Reserve Bank of Zimbabwe on cryptocurrencies.

The Central Bank recently banned the trading of cryptocurrency and the verdict of affected the Golix company which employs over 23 workers.

High Court judge Justice Alphas Chitakunye passed the judgment which was a default verdict after the Reserve Bank of Zimbabwe failed to turn up.

Golix had argued that the ban was unconstitutional as there is no law giving the Central Bank powers for it.

Earlier in the week, the company’s chief executive officer told ZimEye.com of the company’s successes in the last few years.

Golix, is currently Zimbabwe’s first and biggest cryptocurrency exchange.

Golix was represented by Mr Hopewell Chitima and Miss Fadzayi Mahere.