Cyanuric chloride acts as a bleach in some combinations donating chlorine and accepting the substitute. It resonates in two forms which makes the chlorine somewhat mobile and available.
Acetone solvent has the risk of rapid polymerization, sometimes exploding in presence of chloride bleach. Another solvent might be safer. The potassium carbonate presumes that carbon dioxide is given off somewhere in the process, and possibly a bit of water that should be removed.
Potassium seems to drive completion, without which the product would be a mix of intermediates.