DORA Compliance refers to adherence to the Digital Operational Resilience Act, a regulatory framework established by the European Union. This act aims to strengthen the information and communication technology security of financial entities and their critical third-party service providers. It mandates robust risk management, incident reporting, digital operational resilience testing, and third-party risk oversight. Entities operating within the EU financial sector must satisfy these requirements.
Context
DORA Compliance is a significant topic in crypto news, particularly for digital asset service providers and financial institutions engaging with blockchain technology in Europe. The regulation compels these entities to enhance their cybersecurity and operational continuity measures. The ongoing discussion involves how decentralized protocols and distributed ledger technologies can align with these stringent regulatory expectations.
The EU's MiCA framework is now fully operational, compelling all Crypto-Asset Service Providers to secure authorization and implement stringent market integrity controls.
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