The EU financial sector encompasses the collective financial institutions, markets, and regulatory bodies operating within the European Union. This sector includes banks, investment firms, insurance companies, and payment service providers, all operating under a harmonized, yet complex, framework of EU-wide and national regulations. Its activities are crucial for economic stability and growth across member states.
Context
News regarding the EU financial sector frequently reports on its regulatory responses to digital assets and blockchain technology, such as the Markets in Crypto-Assets regulation. These developments indicate the EU’s approach to integrating digital assets into its established financial system, aiming for market stability and consumer protection. Observing the EU’s stance provides insight into global regulatory trends affecting the crypto industry.
DORA's application mandates a systemic overhaul of ICT risk governance and third-party vendor contracts, fundamentally recasting operational resilience as a non-negotiable compliance pillar.
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