HomeCryptoOKCoin and Coinlink receive a fine for violation of privacy

OKCoin and Coinlink receive a fine for violation of privacy

The South Korean regulator KCC (Korea Communications Commission) has decided to fine two crypto exchanges, Coinlink and OKCoin, for violating the privacy and data protection of users.

Both exchanges were fined for not keeping the users’ register for more than 6 months and for not checking their register monthly.

okcoin coinlink fine privacy

The control carried out by KCC took place at the request of the American FCC (Federal Communications Commission) and controls were carried out on 5 Korean exchanges.

Between July and September 2018 only OkCoin and Coinlink were fined 7 million won (about $ 6,300) for problems related to user privacy.

In addition, OKCoin was further fined 5 million Won (about $4,500) for violating user rights by making it more difficult for members to withdraw. The remaining 3 exchanges GoPax, KBlockchain and Coinnest passed the checks without any problems, also because of the high standards of security and privacy.

Other institutions have also been affected by the control of the commission, including banks and other services related to the world of finance.

Alfredo de Candia
Alfredo de Candia
Android developer da oltre 8 anni sul playstore di Google con una decina di app, Alfredo a 21 anni ha scalato il Monte Fuji seguendo il detto "Chi scala il monte Fuji una volta nella vita è un uomo saggio, chi lo scala due volte è un pazzo". Tra le sue app troviamo un dizionario di giapponese, un database di spam e virus, il più completo database sui compleanni di serie Anime e Manga e un database sulle shitcoin. Miner della domenica, Alfredo ha una forte passione per le crypto ed è un fan di EOS.