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DORA aims to strengthen the digital operational resilience of the financial sector in the face of digital transformation and heightened cybersecurity threats. It is the first piece of legislation that provides a comprehensive digital operation framework for financial entities on an EU level.
Once DORA applies in January 2025, all financial entities operating within the EU must fully comply with its measures. This includes traditional financial entities such as banks, investment firms, and credit institutions and non-traditional entities such as crypto asset service providers and crowdfunding platforms. It will also apply to ICT providers who service the finance sector.
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