Delegated acts related to DORA and MiCA - calls for advice

As part of the 2020 Digital Finance package, the Commission put forward a legislative proposal for a Regulation on the Digital Operational resilience of the Financial Sector (DORA), accompanied by a Directive. The objective of DORA is to strengthen and align digital operational resilience across the financial sector by putting in place a comprehensive framework addressing various, core components of financial entities’ digital operational resilience.

The Commission also proposed a Regulation on Markets in Crypto-Assets (MiCA), which is designed to promote safe innovation in crypto-assets while tackling the associated risks. MiCA establishes a framework covering previously unregulated crypto-assets and providers of services related to such assets. 

Following political agreements in the negotiations on DORA and MiCA, the Commission is now advancing work on delegated acts linked to them. DORA empowers the Commission to adopt delegated acts to further specify the designation criteria for critical ICT third-party service providers (CTPPs) and the amount of fees to be levied on such providers. In this context, in December 2022, the Commission requested the European Supervisory Authorities to provide technical advice on further specifying the details aimed at shaping-up the designation criteria for CTPPs, as well as the elements which are needed in the specification of the amount of the fees, and the way and methods in which such fees are to be paid.

Similarly, the Commission asked the European Banking Authority (EBA) for technical advice on certain delegated acts that the Commission intends to adopt under MiCA. The request for advice, launched in December 2022, concerns certain criteria for the classification of asset-referenced tokens and e-money tokens as significant as well as supervisory fees to be charged by EBA to the issuers of significant asset-referenced tokens or e-money tokens. This request for technical advice is provisional since MiCA has not yet entered into force. Its publication in the EU Official Journal is planned for spring 2023.