Dubai2026-10-06 22:24:51Dubai VARA sets minimum reserve audit requirements for VASPsDubai’s Virtual Assets Regulatory Authority, or VARA, has issued a circular on reserve asset audits that sets out the minimum requirements for independent audits of virtual asset service providers, known as VASPs. Under the notice, a VASP must maintain reserves equal to at least 100% of customer liabilities throughout the full review period. Those reserves must be held in the same virtual assets on a 1:1 basis, with reconciliations carried out on a daily basis. The required audit scope also extends across hot, warm and cold wallets, third-party wallet infrastructure, and assets held with third-party custodians. In addition, the audit must verify whether customer assets are properly segregated, whether wallet control remains in place, and whether any assets have been used for restaking, lending, or other purposes. The circular lays out a baseline for how reserve-backed customer assets should be reviewed under VARA’s framework.540
Dubai2026-10-06 16:16:37Dubai VARA sets reserve audit rules for VASPs, requiring full coverage of client liabilitiesDubai’s Virtual Assets Regulatory Authority, or VARA, has issued a circular setting minimum requirements for independent reserve asset audits of virtual asset service providers (VASPs). The notice says VASPs must maintain reserves equal to at least 100% of client liabilities throughout the full review period. Those reserves must be held on a 1:1 basis in the same virtual assets as customer liabilities, with daily reconciliation required. The audit scope must cover hot wallets, warm wallets, cold wallets, third-party wallet infrastructure, and assets held with third-party custodians. Auditors are also required to examine whether client assets are properly segregated, who controls the wallets, and whether any assets have been used for restaking, lending, or other purposes. The update was cited by Wu Blockchain.610
Tether2026-07-24 06:05:17Tether Hires Big Four Firm for First Full Audit of $184 Billion USDT ReservesTether has engaged a Big Four accounting firm for its first full independent audit, expanding beyond attestations to review reserves, liabilities, and internal systems tied to more than $184 billion in USDT.420
Tether2026-07-23 02:05:17Tether Commits to Full Financial Audit as USDT Reserve Transparency Faces ScrutinyTether said it will undergo a full independent financial audit by one of the Big Four firms, extending beyond routine reserve reports to review assets, liabilities, and broader reporting practices tied to USDT.680
USDT2026-07-22 12:40:13Tether (USDT) Explained: How the $154.7B Stablecoin Works and Why It’s ControversialUSDT is the largest stablecoin with a $154.7B market cap, pegged 1:1 to the USD via a mint-burn mechanism. This article covers how it works, use cases, history, benefits, and key regulatory criticisms.3140
Matrixdock2026-07-21 09:29:26Matrixdock completes fourth semiannual reserve audit as XAGm joins verification scopeMatrixdock, the RWA tokenization platform under BIT, has completed its fourth consecutive semiannual independent reserve audit and its second straight year of reserve verification by Bureau Veritas. The latest review expanded beyond tokenized gold product XAUm to include tokenized silver product XAGm for the first time, bringing both precious metal reserve pools under the same verification process. According to the audit results, Bureau Veritas carried out physical checks on Matrixdock’s underlying metal holdings and found them consistent with the company’s records, with no discrepancies identified. The review covered 574 gold and silver bars from LBMA-accredited refiners stored across Malca-Amit Singapore, Brink's Hong Kong, and Brink's Singapore. As of the audit date, XAUm reserves covered 16,331.184 troy ounces of gold against 16,331.179 tokens in circulation, while XAGm covered 65,934 troy ounces of silver against 65,998.551 circulating tokens after applying the stated ozPerToken ratio. Matrixdock said the repeated use of the same external verifier supports a consistent long-term validation framework, which it refers to as its Reserve Transparency Stack.970
