The crypto market is increasingly facing numerous cybersecurity risks, especially as Europe begins to implement the Digital Operational Resilience Act (#DORA ) in January 2025. To support digital asset businesses and financial institutions in complying with this new regulation, Fireblocks – a company specializing in crypto custody services – has just launched a network security and operational solutions package.
DORA – A challenge for small crypto companies
DORA requires all financial companies in the EU, from large banks to small crypto firms, to enhance their resilience against cyber attacks, technical incidents, and operational disruptions. This creates a significant compliance burden, especially for crypto startups or small fintech companies.
Alex Jilitsky, Cybersecurity GRC Director at Fireblocks, stated:
“DORA does not differentiate between small companies and large banks – all must ensure resilience against cyber attacks, incidents, and technical disruptions.”
The necessity for security tools has been further confirmed following the recent large-scale hack on the Bybit exchange, causing significant losses.
What is special about Fireblocks' solution?
Cyber and Operational Resilience Package (#COR ) Compliance Package from Fireblocks provides:
✅ Legal annex to help companies align their security policies with DORA.
✅ Regular reports to monitor and assess security risks.
✅ Annual security audits to ensure compliance with the latest cybersecurity standards.
Impact on the crypto market
The launch of this security package by Fireblocks not only helps crypto and fintech companies mitigate legal risks, but also contributes to enhancing investor confidence in the digital asset market. As traditional financial institutions and crypto businesses both raise cybersecurity standards, this industry can develop more sustainably in the future. 🚀#anhbacong