An incident reporting protocol is a predefined set of steps for documenting and communicating security breaches or operational failures. This protocol outlines the procedures for identifying, analyzing, and formally reporting cybersecurity incidents, system malfunctions, or other critical events within an organization or network. It specifies who reports what, to whom, and within what timeframe, ensuring timely communication to relevant stakeholders and regulatory bodies. A robust protocol is essential for rapid response, mitigation, and compliance with disclosure requirements.
Context
The establishment of comprehensive incident reporting protocols is increasingly vital for digital asset service providers due to the heightened risk of cyberattacks. Regulators are emphasizing the need for clear and timely reporting to maintain market integrity and investor confidence. Discussions often focus on harmonizing reporting standards across different jurisdictions to address cross-border incidents effectively.
The DORA framework imposes a unified, architectural standard for ICT risk management, fundamentally recasting operational resilience as a core compliance function for CASPs.
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