[Dubai VARA Clarifies Reserve Asset Audit Requirements, VASPs Must Maintain At Least 100% Customer Liability Coverage at All Times] According to a report by Jinse Finance, on October 7, the Dubai Virtual Assets Regulatory Authority (VARA) issued a circular on October 6 outlining the minimum requirements for independent audits of VASPs' reserve assets. VASPs are required to maintain reserves of no less than 100% of customer liabilities throughout the entire review period, holding the same virtual assets on a 1:1 ratio and reconciling accounts daily. The audit scope must cover hot wallets, warm wallets, cold wallets, third-party wallet infrastructures, and third-party custodial assets, while also verifying the segregation of customer assets, wallet control rights, and whether there is any rehypothecation, lending, or other usage of the assets.