Module 3 · Chapter 9
DORA: When the Systems Fail
DORA is the EU law on keeping financial firms' technology running. It says how a crypto firm prepares for a failure, whom it tells when one comes, and how it manages its providers.
In this chapter
- What DORA asks of a crypto firm, and who answers for it
- When an outage becomes a major incident, and the three reports that follow
- How a register, a contract and an exit plan control outside providers
9.1DORA in one paragraph
DORA, the Digital Operational Resilience Act, is the EU's law on keeping financial firms' technology running and their data safe. It has applied since January 2025, and it covers crypto firms as well as banks. It asks Halcyon for four things:
- written rules for its technology, which the board answers for
- reports of serious failures to the Central Bank, on fixed deadlines
- regular tests of its systems
- control of the outside providers it depends on.
Key point
DORA does not promise that systems never fail. It makes the firm ready for a failure, and makes it tell the regulator quickly when the failure is serious.
Also in this chapter
- Why a crypto firm needs a technology law
- The framework, and who answers for it
- When an incident becomes major
- Three reports on fixed deadlines
- Testing the systems
- The register of outside providers
- The contract and the exit plan
- What the records bought in May
- Your job
Preview
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