DORA Regulations Kick In: A New Era For Crypto In The EU

Quick Summary:

Cryptocurrency firms operating in member states of the European Union will be required to beef up their cybersecurity and risk management as the economic bloc implements a new regulation.

Legal intelligence JD Supra stated that one of the provisions under the new EU rule is developing and reviewing ICT third-party risk management strategies such as having mandatory provisions in contracts with ICT service providers and “a registry of information documenting all existing contractual arrangements.

This DORA provision would affect VASPs in the region because financial entities in the EU will be compelled to have a comprehensive register of their contractual arrangements with third-party IT service providers.

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Article Details

Author / Journalist: Christian Encila

Category: Crypto

Markets: HungaryIreland

Topics: DORA Blockchain VASP Eu ICT Crypto News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-19 @ 02:30:13 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 544 words

Reading Time: 4 minutes read

Sentences: 27 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 25243531

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News Last Updated: 8 hours ago

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