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C. Reconciliation

1. VASPs must maintain a system to ensure that accurate reconciliations of the Virtual Assets owned by each client are carried out daily. The reconciliation must include—
 
  a. a full list of individual client credit ledger balances, as recorded by the VASP; and
  b. a full list of individual client debit ledger balances, as recorded by the VASP.
 
2. VASPs must notify VARA where there has been a material discrepancy with the reconciliation which has not been rectified.