TRISA and TRISA’s Technical Subcommittee announce the release of version 9 (v9 ) of the TRISA White Paper. v9 contains an important update to Section 6: The TRISA Transfer Protocol.
A Provision for Asynchronous Messaging
The TRISA protocol now supports asynchronous messaging, allowing Beneficiary VASPs time to respond to Travel Rule requests from Originator VASPs. Previously, the protocol supported synchronous and batch processing. With asynchronous messaging, a Beneficiary VASP can return a control flow response to the transfer message to notify the Originating VASP that it will handle the compliance transfer in an asynchronous manner. The Originating VASP should be prepared to receive such asynchronous callbacks from the Beneficiary VASP and take appropriate measures to handle it by caching the original message and awaiting a subsequent transfer message from the Beneficiary VASP. All messages that refer to the same blockchain transaction will contain the same envelope ID so that all messages may be linked together.
The source code for asynchronous messaging is available at https://github.com/trisacrypto.
Adapting to Operator Feedback
TRISA implemented asynchronous messaging after receiving feedback from VASPs about the need for time to process Travel Rule requests. As TRISA has been implemented, different types of operators have brought forward implementation concerns related to the inability to conduct asynchronous exchanges. Three specific use cases include:
- Cryptocurrency ATM Operators: Require time to provide beneficiary information, specifically for overseas remittances
- Exchanges & Technology Providers: Require time for Personally Identifiable Information (PII) exchanges
- Non-TRISA Members: Require time to respond due to sunrise issue and manual compliance processes, especially for smaller VASPs that conduct fewer transactions
As the market and regulatory landscape changes, TRISA continues to receive feedback from VASPs as a channel to adapt the protocol and offer practical solutions. VASPs can send requests or feedback to [email protected].
The Travel Rule Information Sharing Alliance (TRISA) is a professional working group of VASP operators, Travel Rule solution providers, regulators, advisors, and technical implementers dedicated to making cross-border exchanges of cryptocurrencies safe and lawful. TRISA consists of several components including:
- The TRISA Working Group, a 501(c)(6) professional organization
- A white paper that describes a protocol for an open source, interoperable, and decentralized messaging layer for Travel Rule compliance
- The Global Directory Service, a network of trusted VASPs with TRISA as the Trusted VASP Certificate Authority
- An open source Github repository with documentation to implement secure messaging between VASPs