The Council of the European Union adopted its position on two proposals that are part of the digital finance package: the ‘Regulation on Markets in Crypto Assets' (MiCA) and the ‘Digital Operational Resilience Act' (DORA).
This agreement forms the Council’s negotiating mandate for trilogue negotiations with the European Parliament.
The purpose of MiCA is to create a "regulatory framework for the cryptoassets market that supports innovation and draws on the potential of cryptoassets in a way that preserves financial stability and protects investors."
DORA aims to create a "regulatory framework on digital operational resilience whereby all firms ensure they can withstand all types of ICT-related disruptions and threats, in order to prevent and mitigate cyber threats."