Our Commitment to the UAE’s Evolving Virtual Asset Ecosystem

At Affiniax Partners, we are committed to supporting the rapidly evolving virtual asset and cryptocurrency ecosystem in the UAE and beyond. With the emergence of strong regulatory frameworks such as VARA (Dubai Virtual Assets Regulatory Authority) and increasing global scrutiny on compliance, crypto businesses require trusted partners who not only understand blockchain technology but also the regulatory, audit, and compliance obligations that come with it.

TL;DR – Key Takeaways

  • Trusted Crypto Audit Partner: Affiniax Partners supports UAE’s virtual asset ecosystem with expert VARA-aligned audit and compliance services.
  • Certified Specialists: Our team of Certified Crypto Auditors and MLROs ensures full transparency and regulatory confidence.
  • Comprehensive Coverage: From Proof of Reserves to AML/CFT, risk, and data privacy audits, we deliver end-to-end assurance.
  • Complete Compliance Support: We act as your long-term partner for audits, filings, and continuous AML compliance.

Specialized Crypto Audit & Compliance Expertise

Our dedicated Crypto Audit & Compliance Practice brings together a team of experienced professionals with niche qualifications, including Certified Cryptocurrency Auditors and Money Laundering Reporting Officers (MLROs). This unique expertise allows us to deliver tailored solutions that ensure your business operates with transparency, integrity, and full regulatory compliance.

In addition, we have a strong AML compliance team led by qualified MLRO professionals, who bring hands-on experience in designing, implementing, and crypto monitoring Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) frameworks for crypto businesses.

With our combined expertise in crypto auditing and AML compliance, Affiniax Partners positions itself as a one-stop solution provider for crypto businesses looking to build trust, demonstrate regulatory readiness, and operate securely in a highly regulated environment.

Comprehensive Crypto Audit & Assurance Services

  • External Audit – Financial statement audits and regulatory reporting in line with UAE and international accounting standards.
  • Proof of Reserves (PoR) Audits – Independent verification of assets held against client liabilities to build investor and regulator confidence.
  • Wallet & Custody Reviews – Assurance over private key management, cold/hot wallet security, and segregation of client assets.
  • Blockchain Transaction Reconciliation – Matching blockchain transactions with internal ledgers to ensure accuracy and completeness.

Internal Audit, Risk Management & Cybersecurity

  • Governance & Controls Review – Assessment of internal governance, risk, and compliance frameworks.
  • AML/CFT Internal Audits – Review of anti-money laundering and counter-terrorist financing controls, including KYC, sanctions screening, and suspicious activity reporting.
  • Cybersecurity & IT Controls Audit – Testing resilience of IT infrastructure, wallet security, and incident response mechanisms.

Data Protection & Privacy Compliance UAE PDPL, DIFC & ADGM Compliance – Gap assessments and implementation aligned with global standards such as GDPR.

  • Data Breach Response Planning – Advisory on handling personal data breaches, reporting protocols, and regulatory notifications.

Additional Specialized Services for Crypto Businesses

  • SOC & IT Audits – (SOC 1, SOC 2, SOC for Crypto, FedRAMP)
  • Cybersecurity & Penetration Testing – infrastructure hardening, key management, smart contract audits (in coordination with specialists)
  • R&D Incentives & Credits – blockchain development and protocol engineering.  Sustainability & ESG – GHG accounting for miners, energy audits, renewable energy credit validation.
  • Training & Governance Enablement – board education, finance team workshops, crypto tax operations playbooks

More Than Just Numbers: Unlock Business Insights with Audits

When most people think of an audit, they picture stacks of files and checklists. In reality, a high quality audit is much more than compliance—it’s an opportunity to uncover insights, strengthen controls, and build credibility with stakeholders.

At Affiniax Partners, our audit and assurance services in Dubai go beyond the traditional tick-box approach. We work closely with you to understand your operations, identify risks, and provide actionable recommendations that enhance performance and efficiency.

FAQs on Crypto Audit and AML Attestations

1. What is a Crypto Audit and why is it important under VARA?

A Crypto Audit is an independent review of a virtual asset service provider’s (VASP’s) financial record, blockchain transactions, internal controls, and compliance framework. Under the Dubai Virtual Assets Regulatory Authority (VARA), VASPs must maintain accurate records, ensure segregation of client assets, and demonstrate transparency. A crypto audit helps you meet these requirements, build investor trust, and avoid regulatory penalties.

2. How can Affiniax Partners help us with VARA compliance?

We provide end-to-end support to ensure your business complies with VARA regulations, including:

  • External & Internal Crypto Audits
  • Proof of Reserves (PoR) Verification
  • AML/CFT Compliance Reviews
  • Risk & Control Framework Assessments
  • Governance & Reporting Advisory
  • Regulatory Filing Support with VARA

3. What is Proof of Reserves (PoR) and do we need it?

Yes, if you are a VASP holding client assets, VARA requires you to demonstrate that you hold enough reserves to cover client liabilities. Proof of Reserves involves reconciling blockchain wallet balances with client liabilities, often using Merkle-tree or on-chain verification methods.
Our audit team validates these reserves and prepares attestation reports for VARA compliance.

4. Do you also review AML/CFT compliance for VARA clients?

Absolutely. VARA Rulebooks emphasize Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) compliance. Our AML practice is led by Certified Cryptocurrency Auditors and MLROs, who:

  • Assess your AML policies and procedures
  • Verify KYC/Customer Due Diligence processes
  • Test transaction monitoring and suspicious activity reporting
  • Ensure compliance with UAE AML laws and FATF standards

5. How often do we need to undergo a crypto audit?

VARA typically requires annual audits, but certain compliance checks (like Proof of Reserves or AML transaction testing) may be required quarterly or on an ad-hoc basis. We can structure an audit calendar tailored to your licensing conditions and operational risk profile.

6. What records do we need to maintain for a VARA audit?

You must keep:

  • General ledger & accounting records (crypto + fiat)
  • Blockchain transaction logs
  • Proof of wallet ownership & custody arrangements
  • AML/KYC records for all clients
  • Board minutes, policies & risk assessments
  • Contracts, service agreements & disclosures

We help design recordkeeping systems that are audit-ready and aligned with VARA requirements.

7. Do you provide ongoing compliance support, or only audits?

Both. We can act as your long-term compliance partner, providing:

  • Internal audit & compliance monitoring
  • Independent reviews for regulatory filings
  • Continuous AML/CFT advisory
  • Staff training on crypto compliance
  • Support during VARA inspections or regulator queries

8. What makes Affiniax Partners different from others in crypto audit?

  • Specialized Expertise: Our team includes Certified Cryptocurrency Auditors & MLROs with hands-on crypto and AML experience.
  • Local & Global Knowledge: Deep understanding of VARA regulations, UAE AML laws, and international frameworks (FATF, GDPR, etc.).
  • Holistic Approach: We don’t just audit numbers—we strengthen your governance, controls, and compliance culture.

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