B. Additional ongoing disclosures
Effective from Sep 19 2023 - Sep 18 2023
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1. |
VASPs Licensed to issue FRVAs shall at least every month and in a clear, accurate and transparent manner disclose on their website the following information regarding whether an FRVA is one hundred percent [100%] backed by Reserve Assets— |
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a. | the number and value of FRVAs in circulation; and | |||
b. |
the value and composition of the Reserve Assets, |
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as independently audited in accordance with Rule III.D.1 of these FRVA Rules. |
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2. |
Disclosures in accordance with Rule II.B.1 of these FRVA Rules shall be accompanied by a statement confirming whether the FRVA is, for the period covered and at the time of the disclosure, at least one hundred percent [100%] backed by Reserve Assets in accordance with independent audit requirements in Rule III.D.1 of these FRVA Rules. | |||
3. |
VASPs Licensed to issue FRVAs shall as soon as possible and in a clear, accurate and transparent manner disclose on their website any event that has or is likely to have a significant effect, directly or indirectly, on the market value of the FRVAs. |