On 24 November 2021 the EU Council adopted its position on two proposals that are part of the EU's digital finance package: the ‘Regulation on Markets in Crypto Assets' (MiCA) and the ‘Digital Operational Resilience Act' (DORA). This agreed position now forms the EU Council’s negotiating mandate for trilogue negotiations with the European Parliament. 

The EU's digital finance package contains a digital finance strategy, proposals on markets in crypto-assets (MiCA), digital operational resilience (DORA) and a proposal on distributed ledger technology (DLT). 

The package is intended to bridge a gap in existing EU legislation by ensuring that the current legal framework does not pose obstacles to the use of new digital financial instruments and, at the same time, ensures that such new technologies and products fall within the scope of financial regulation and operational risk management arrangements of firms active in the EU. 

The package aims to support innovation and the uptake of new financial technologies while providing for an appropriate level of consumer and investor protection.