There is currently limited verification of VCs in the Wallet.
The following verifications of held VCs and presented VCs are on our roadmap:
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integrity of the credential, including conformance to credential schema
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cryptographically signed by one of the issuer's DID keys that were valid at time of issuance
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trustworthiness of issuer to issue the credential of that type
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the credential has not been revoked
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for presented VCs, the holder is the subject of the credential. The holder has the same DID as the subject DID in the credential.