Travel Rule Sequence Diagrams
Intro
The following diagrams aim to illustrate how the CryptoSwift Travel Rule messaging is implemented and how it seamlessly integrates into existing crypto payment flows. Our objective is to ensure that the introduction of the Travel Rule causes minimal disruption to the existing business logic of Virtual Asset Service Providers (VASPs). Lets start with a general, simplified overview of how CryptoSwift operates.
Outgoing payments & Travel Rule messages
The following outlines the sequence of actions related to Travel Rule and outgoing payments for CryptoSwift clients as the originator VASP. Note that the diagram is simplified and does not include all actions related to crypto payments (e.g. various actions related to incoming payments on the beneficiary VASP side). It mainly focuses on the Travel Rule, the actions and sequences surrounding it.
Incoming payments & Travel Rule messages
For CryptoSwift clients as the beneficiary VASP, the sequence is illustrated below. Please note, that for incoming Travel Rule messages, initiating and forwarding the message via a Travel Rule service provider is the originator VASP’s responsibility. Currently there is no mechanism that could ensure that all originator VASP’s send out the Travel Rule data with each transaction.
