1.
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VASPs Licensed to issue FRVAs shall ensure that—
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a.
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any increase in the circulating supply of the FRVA is always matched by a corresponding increase in the Reserve Assets; and |
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b.
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any decrease in the circulating supply of the FRVA is always matched by a corresponding decrease in the Reserve Assets.
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2.
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VASPs Licensed to issue FRVAs shall ensure that any increase or decrease in the Reserve Assets required under Rule III.A.1 of these FRVA Rules is responsibly managed to avoid any adverse market impact in relation to the Reserve Assets. |
3.
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VASPs Licensed to issue FRVAs shall, regardless of whether any third party[ies] are involved in the creation or redemption of the FRVA, comply with Rule III.A.2 of these FRVA Rules at all times.
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