An extremely secure cryptocurrency, commonly known as the Decentralized Anonymous Payment System (DAP), stands as one of the most innovative and widely embraced applications in the field of blockchain. Although the DAP provides a strong degree of transaction privacy and user anonymity, it has been utilized illegally in criminal activities, constituting security challenges to governments and financial institutions. In this paper, we propose a solution known as Counter: A Novel Scheme Ensuring Compliance and Privacy in Cryptocurrency-Based Blockchain, which aims to preserve transaction privacy while providing governments with supervision and enforcing regulations over transactions. Our suggested counter imposed limitations on the transfer of large amounts of cryptocurrencies and also imposed a restriction on the trading of cryptocurrencies during specific time periods. The principal feature of our proposed system involves employing the Order-Preserving Encryption (OPE) and Pedersen Commitment to implement a financial policy ensuring that the transferred amount remains within the allowed range and does not exceed the limit. Besides, we utilized the Unix timestamp to guarantee that the transaction is carried out within the allowed date and time frame. We utilized the RSA accumulator to provide government supervision and enforce regulations. Our suggested counter employs the combination of the ring signature, Pedersen Commitment, and stealth address to protect transaction privacy. Our system fulfills all the security requirements for organizing digital assets that have been defined by international financial institutions and authorities. Finally, the assessment shows that our system is effective and efficient compared to other systems.
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