The European Parliament passed the cybersecurity legislation on cryptocurrencies and fintech, the Digital Operational Resilience Act (DORA)

2022-11-11 00:02:55

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ChainCatcher news, according to The Block, the European Parliament has passed the cybersecurity legislation for digital finance and crypto asset service providers, the Digital Operational Resilience Act (DORA), with 556 votes in favor and 18 against. The regulations related to this law will come into effect 24 months after being published in the Official Journal of the European Union, expected in 2025.

DORA aims to coordinate the risk management requirements and processes for reporting cybersecurity incidents. Financial institutions will be required to monitor and report security incidents, and technology service providers will be under the supervision of European regulators. DORA stems from the EU's 2020 Digital Finance Package. Additionally, the vote on MiCA has been postponed until February next year. (source link)

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EU Digital Operational Resilience Act

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