Annex 2: Asset-Referenced Virtual Assets Issuance Rules Part I – Approval Requirements A. Interpretation B. General Requirements for VARA Approval C. Significant ARVA Issuers Part II – Additional Disclosures A. Additional Whitepaper Disclosures B. Additional Ongoing Disclosures Part III – Additional Compliance Obligations of ARVA Issuers A. Value of an Asset-Referenced Virtual Asset B. Direct Right of Ownership C. Reserve Assets D. Audits and Reporting E. Redemptions F. Marketing G. Capital Requirements Schedule 2 – Definitions