South Korea’s regulator, the KCC (Korea Communications Commission) is fining two crypto exchanges — Coinlink and OKCoin — for privacy and data laws violation, as reported by a local news outlet. Both exchanges are penalized for failing to maintain their users’ data logs, which is mandatory according to Korean laws. The exchanges were found to be guilty of data violation after the KCC conducted a check on five exchanges in answer to the US’ FCC. Furthermore, OKCoin is also being penalized for overly-complicated account closure process. The KCC has uncovered that opening an OKCoin account is easy and straightforward while closing it much more complicated. OKCoin is under the same management as another cryptocurrency exchange, OKEx , which is headquartered in Malta. Both exchanges have the same Chief Risk Officer, Tim Byun, who was interviewed by CryptoPotato in October 2015. During the interview, Byun talked about ETFs, regulations, liquidation, and more. He also explained his role
