At Sumsub, we want to make our VASP directory and TR Ecosystem more understandable, clear and transparent. We want VASPs to be aware of the status of their counterparties VASPs and determine if they will interact with them based on the information we have about these VASPs.

The new statuses are meant to show the level of verification we have carried out on these VASPs so clients can make more data backed decisions.

The separation of the ecosystem and the directory is intended to clarify the legal relationship between Sumsub and VASPs in these systems.

A VASP may have two types of statuses:

• Essential Checks Status — shows the level of completed checks based on the information that is publicly available. With this status, you will be able to see and evaluate how risky a VASP is (particularly a Sunrise VASP) before interacting or sending/receiving funds from such VASPs.
• Due Diligence Status — shows the level of completed checks on the VASP based on the information from the Travel Rule Due Diligence questionnaire. This will help conduct the due diligence checks on VASPs before sharing information according to Travel Rule regulatory requirements.

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Note

• The directory will consist of VASPs with only the Initiated, Essential Checks Done and Extended Essential Checks Done statuses.
• The ecosystem will consist of VASPs with only the Due Diligence in Progress, Due Diligence Completed and Rejected statuses.
• There will be a clear filter on the VASP directory page that differentiates VASPs who are in the ecosystem, from those in the directory.

Combinations of statuses

The following table describes the possible combinations of VASP statuses.

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Tip

Refer to the Travel Rule glossary to learn about the essential Travel Rule terms and definitions.

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Note

Every VASP having the Due Diligence Completed status will have either the EC Done or ECC Done statuses.