#dubaivaraissuesreserveassetauditcircular
🚨 Dubai's VARA just dropped a Reserve Asset Audit Circular 🇦🇪
On Oct 6, Dubai's crypto regulator set clearer minimum standards for how licensed exchanges and custodians prove they're solvent:
✅ Reserves must cover at least 100% of customer liabilities
✅ Held 1:1 in the same assets users are owed
✅ Reconciled every day
✅ Independent audits covering hot, warm and cold wallets plus third-party custody
✅ Auditors check whether user assets are segregated, who controls the wallets, and whether assets are being lent or restaked
Why it matters: after the exchange collapses of past years, proof of reserves is becoming a regulatory requirement rather than a marketing exercise. Clearer audit rules mean more transparency and better protection for users.
Do you check proof of reserves before choosing where to hold your crypto? 👇
#VARA #DUBAI #Proofsofreserves #crypto
$EDU $PARTI
🚨 Dubai's VARA just dropped a Reserve Asset Audit Circular 🇦🇪
On Oct 6, Dubai's crypto regulator set clearer minimum standards for how licensed exchanges and custodians prove they're solvent:
✅ Reserves must cover at least 100% of customer liabilities
✅ Held 1:1 in the same assets users are owed
✅ Reconciled every day
✅ Independent audits covering hot, warm and cold wallets plus third-party custody
✅ Auditors check whether user assets are segregated, who controls the wallets, and whether assets are being lent or restaked
Why it matters: after the exchange collapses of past years, proof of reserves is becoming a regulatory requirement rather than a marketing exercise. Clearer audit rules mean more transparency and better protection for users.
Do you check proof of reserves before choosing where to hold your crypto? 👇
#VARA #DUBAI #Proofsofreserves #crypto
$EDU $PARTI
