EU cyber rules set strict reporting deadlines for crypto wallet providers

Crypto wallet providers face tighter incident-reporting requirements under EU cyber rules, according to Cointelegraph. Following an exploit, providers must submit an initial vulnerability report within 24 hours and a complete notification within 72 hours. Companies that fail to meet the deadlines could face administrative fines of up to $17.3 million. The requirements place a firm timetable on how wallet makers must report security vulnerabilities after an exploit, potentially making incident-response procedures a more important operational focus for the sector. The rules apply to crypto wallet providers, while the available information does not specify additional conditions, enforcement details or the date on which the reporting obligations take effect.