DORA’s main provisions and their impact on CASPs
written by Efi Thoma, Lawyer, LL.B. | LL.M. | IMES The Digital Operational Resilience Act (DORA) is part of the European Union's broader effort to ensure a safe and resilient digital financial ecosystem. DORA applies to a wide range of financial institutions, including banks, insurers, investment firms, and CASPs (Crypto-Asset Service Providers) which are directly related to the rapidly growing sector of crypto-assets. DORA is a key regulatory framework adopted by the European Union (EU) to enhance the operational resilience of financial institutions and markets, particularly in the face of increasing reliance on information technology (IT) systems and digital tools. The EU Regulation, which was introduced as part of the EU's Digital Finance Package, aims to ensure that financial institutions can withstand and recover from a variety of disruptions, including cyber attacks, system failures, and other digital operational risks. DORA applies to a broad range o...