Compliance
Last updated at March 12, 2025
Our primary goal at CoinCeal is to provide our users with a safe and compliant environment for cross-chain privacy. We are committed to safeguarding both our users, as well as the protocol itself, from fraudulent and illicit activities within the crypto space. All of this is made possible by our robust compliance framework.
- We believe that having the appropriate compliance framework is the cornerstone of sustainable privacy products in crypto
- Tornado Cash and Samourai Wallet failed due to not being compliant, while being successful crypto protocols in the start
- IlluminneX protects itself from illicit funds and malicious actors by implementing a robust AML policy and being transparent about it
- IlluminneX is not a crypto mixer. Instead we offer a highly scalable and compliant privacy solution by using Oasis Sapphire TEE technology
Privacy is a fundamental right
Given the transparent nature of public blockchains like Bitcoin and Ethereum, crypto users are accustomed to all transactions being publicly visible on the network. While this kind of transparency comes with many benefits, there are some obvious disadvantages for the individual user. Whether you are sending money to a friend, paying for goods or services with crypto, or simply moving your assets between wallets, there are many situations where you don’t want your entire balance and transaction history to be visible. By using CoinCeal, anyone can shield their assets from public exposure, and break the public link between the source and destination address.
By default, the user’s transactions on CoinCeal are completely private, meaning neither the public nor the CoinCeal foundation can see the data related to the deposits/withdrawals or link the source and destination addresses together.
Anti-Money Laundering (AML) Policy
CoinCeal protects itself from involvement in any activity that may facilitate money laundering or other illicit activities by employing a robust AML policy. We use a two-pronged approach to achieve optimal results.
Addresses listed on the OFAC sanctions list are restricted from depositing funds with CoinCeal. If a transaction is attempted from an OFAC-listed address, our AML system will automatically block the deposit and return the funds, as we do not have the capability to freeze them.
We are committed to being a legitimate and law-abiding DeFi protocol. To maintain this reputation, we strictly prohibit any individuals or business entities suspected of money laundering, fraudulent transactions, or other illegal activities from using CoinCeal.
By utilizing the Oasis Privacy Layer (OPL), and taking an innovative approach to fulfilling its compliance obligations, CoinCeal is the first decentralized protocol that can offer both private and compliant cross-chain transactions.
Inquiries
Any requests or inquiries by law enforcement authorities can be sent to us at: [email protected]