A critical ICT provider is an entity that delivers information and communication technology services essential for the sustained operation of significant economic functions or national infrastructure. The disruption or failure of such a provider could have severe, widespread consequences across various sectors. These providers are recognized for their foundational role in supporting interconnected systems. Their reliability is paramount for societal and economic stability.
Context
In the digital asset ecosystem, certain infrastructure providers, such as large cloud service providers hosting blockchain nodes or key wallet service providers, are increasingly viewed as critical ICT providers. Regulators are focusing on the resilience and cybersecurity of these entities to prevent systemic risks to the broader financial system. Ensuring the continuous operation and security of these providers is a significant concern for maintaining trust and stability in crypto markets.
The DORA compliance deadline of January 17, 2025, mandates a systemic upgrade of ICT risk and third-party oversight across all EU financial operations.
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