| 1. | “Asset-Referenced Virtual Assets” or “ARVAs” has the meaning ascribed to it in Schedule 2 – Definitions of the VA Issuance Rulebook. |
| 2. | “Income” has the meaning ascribed to it in Schedule 2 – Definitions of the VA Issuance Rulebook. |
| 3. | “Reference Assets” means, in relation to an ARVA, the RWA and/or Income the ARVA represents or purports to represent, as approved by VARA. |
| 4. | “Reserve Assets” means, for the purposes of these ARVA Rules, the asset or assets maintained in accordance with Rule III.C of these ARVA Rules and as approved by VARA. Reserve Assets are not Client Money or Client VAs, as defined in the Compliance and Risk Management Rulebook. |
| 5. | “RWA” has the meaning ascribed to it in Schedule 2 – Definitions of the VA Issuance Rulebook.
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