Wu Blockchain has learned that the Dubai Virtual Assets Regulatory Authority (VARA) issued a circular on October 6 regarding reserve asset audits, outlining the minimum requirements for independent audits of VASPs. VASPs must maintain reserves of no less than 100% of customer liabilities throughout the review period, held in the same virtual assets at a 1:1 ratio, with daily reconciliation. The audit scope must cover hot wallets, warm wallets, cold wallets, third-party wallet infrastructures, and third-party custodial assets, while verifying customer asset segregation, wallet control, and whether there is any rehypothecation, lending, or other usage. https://www.(wublock123.com)/news/dubai-vara-reserve-asset-audit-requirements-vasp-100-percent-coverage-69611