Bitcoin Exchange in Russia Shares Source Code to Community

Following the increased crackdown on cryptocurrency operations in Russia, a bitcoin exchange decided to share its source code to the community. Authorities in the country are taking a strict and hostile approach in regulating bitcoin operations, forcing the company owners to make their work public.
The project founders decided to share their source code for the bitcoin exchange through the Bitcoin Talk forum and Reddit, enabling other industry startups to see their code and integrate their own software.
Bitcoin Exchange Regulation in Russia
‘The bitcoin community is open source at its core and we wanted to contribute somehow. Giving away our source code turned out to be the logical step to show our love to the community. The bitcoin ecosystem needs to reunite at these times more than ever before,’ explained project manager Ivan Starinin.
Prior to this, the Russian government has proposed legislation to ban digital currencies and impose fines on those that openly promote their bitcoin exchange services in the country. The draft bill is expected to be passed in a few months, effectively hurting cryptocurrency operations or forcing bitcoin exchange companies to transfer their operations abroad.

This post was published at NewsBTC on Apr 28, 2015.