Marina Markezic, director and co-founder of the European Crypto Initiative (EUCI), said that "DORA" poses more issues for CASPs than MiCA. EUCI released a "booklet" to assist in navigating it. She made her statement on a March 14 post on X.
"DORA is currently presenting more challenges for CASPs than MICA," said Markezic. "If you don't know what it is or what it says - we created a booklet for you."
The European Crypto Initiative has published a booklet summarizing the Digital Operational Resilience Act (DORA) to aid crypto-asset service providers and other financial entities with its implementation. The document outlines DORA’s scope, which includes most EU-regulated financial entities and applies different levels of requirements based on entity size. It covers governance obligations for ICT risk oversight, detailed ICT risk management standards, standardized incident reporting procedures, digital operational resilience testing, and management of third-party ICT risk through contractual measures.
DORA is a European Union regulation aimed at enhancing the IT security of financial entities such as banks, insurance companies, and investment firms. It came into force on January 16, 2023, and will apply starting January 17, 2025. DORA focuses on strengthening the financial sector’s ability to withstand operational disruptions by establishing harmonized rules for operational resilience across 20 types of financial entities and their ICT third-party service providers.
According to the European Union, MiCA establishes uniform rules for crypto-asset issuers and service providers not covered by existing EU laws. It aims to ensure transparency, consumer protection, and market stability with specific obligations for different types of crypto-assets including e-money and asset-referenced tokens. The regulation becomes effective from December 30, 2024, including provisions on governance, disclosure, and preventing market abuse with oversight by EU authorities like the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA).
EUCI is a Brussels-based advocacy organization focused on influencing EU regulations to support open decentralized blockchain applications and foster an innovative environment for small- to medium-sized enterprises (SMEs) and crypto-assets service providers. According to EUCI, it engages with EU regulators through education, position papers, research, and dialogue to ensure that Web3 community perspectives are considered in shaping regulations. It organizes events and workshops advocates through position papers and collaborates with universities to educate legal professionals and students on Web3 topics.
Markezic specializes in crypto regulation as director of EUCI. She has worked with crypto projects since 2017 focusing on governance decentralized finance (DeFi), and non-fungible tokens (NFTs). Known for her expertise she frequently speaks at blockchain events. Previously she led the advisory team at Cofound.it evaluating over 700 whitepapers. In 2018 she was named one of the top 100 women in fintech by Lattice80 according to LinkedIn.