Last updated on January 2nd, 2018 at 12:00 am
The Open Source Financial Developers Association (OSFDA) is a newly formed group of software developers with experience in various areas of finance: accounting, trading transaction systems, cryptocurrencies, reporting, and numerous other topics. Members of the OSFDA provide mutual support to each other through the sharing of technical expertise and professional advice, thus making the knowledge of all its members stronger than any single member could be.
The OSFDA recently launched a petition regarding the BitLicense on Change.org and are still seeking signatures from the public. The petition begins with a strong statement against the BitLicense stating,
The proposed BitLicense regulation will cripple small business growth in New York while having broad negative effects on individuals and technology firms throughout the country. With prejudicial precedence it will attempt to regulate open source software and have far reaching implications beyond financial service firms, negatively affecting the NY technology and commerce sectors and diminishing their innovation. The Open Source Financial Developers Association is petitioning the governor and legislature to preempt the Superintendent of the Department of Financial Services from releasing this onerous regulation that will clearly set in motion long-term detrimental consequences for the voters of New York State.
The petition can be found at