Proposal for a Regulation on digital operational resilience for the financial sector6 The Regulation contains the following basic concepts: - introducing requirements for the management by financial entities of the ICT-related risks and for the reporting to the competent authorities of major ICT-related incidents and digital operational resilience testing; - sharing information on cyber threats and vulnerabilities; - prescribing measures for the sound management by financial entities of the risk related to ICT third-party service providers; - introducing requirements for the contractual arrangements between ICT third-party service providers and financial entities; - establishing an oversight framework for critical ICT third-party providers when providing services to financial entities. 5.2. Proposal for a Regulation on Markets in Crypto-assets7 The Regulation defines the notion ‘crypto-asset’8 and lists the main types of cryptoassets, distinguishing between three sub-categories of crypto-assets: - Asset-referenced tokens9. Such tokens may be offered to the public only by credit institutions authorised to operate in the EU or by entities which hold the authorisation referred 6  https://eur-lex.europa.eu/legal-content/BG/TXT/HTML/?uri=CELEX:52020PC0595 https://eur-lex.europa.eu/legal-content/BG/TXT/HTML/?uri=CELEX:52020PC0593 8 ‘Crypto-asset’ means a digital representation of value or rights which may be transferred and stored electronically, using distributed ledger technology or similar technology; 7  4  to in the Regulation. However, issuers should always draw up and publish a crypto-asset white paper – a special information document which must comply with mandatory content and form requirements.

The ambition is to complete the full introduction of instant payments in the European Union by the end of 2021. The following steps are needed to achieve this goal: - Assess the need for mandatory adherence to the SEPA Instant Credit Transfer scheme in euro (SCT Inst.) by the end of 2021 and determining the criteria according to which payment service providers will be subject by this obligation; - Assess whether to adopt a legislative prohibition on charging instant payments higher than standard credit transfers; - Ensuring cross-border connectivity and interoperability of payment systems for instant payments in euro through the TIPS service of the ECB-operated TARGET 2 payment system. All payment service providers that have joined the SEPA Instant Credit Transfer scheme (SCT Inst.) and are reachable in TARGET 2, should be reachable either as a participant or as an reachable party (i.e., through another payment service provider that is a participant) and in the TARGET 2 instant payment service TIPS by the end of 2021; - Developing cross-currency instant payments in the European Union, which will be ensured by the inclusion of currencies other than the euro in the TARGET 2 service for instant payments - TIPS, as was the case with the Swedish krona in 2020; - Encouraging the establishment of links between payment systems processing instant payments in the European Union and those of third countries offering the same service, provided that the standards for fraud prevention, money laundering, etc. are met. 4.