Last updated: Jun 30, 2023
Thank you for visiting Okcoin.com or the Okcoin app ( the “Site”). Your use of the Site is being facilitated by one of the following parties (collectively the “Parties”):
- OKCoin USA Inc., a U.S. Delaware corporation, if you are a U.S. or Canadian resident in one of our operating states or provinces. More details can be found on our Licenses Page;
- OKCoin Europe LTD, a Malta limited liability company, if you are a resident of one of the European Union member states or the United Kingdom;
- OKCoin Pte Ltd, a Singapore limited liability company, if you are a resident of Singapore or Brunei who registered on or after October 15, 2019;
- OKCoin Technology Company Limited, a Hong Kong registered corporation, if you are a resident of any other approved country that is not specifically listed above (including but not limited to, Australia) and if you registered prior to February 9, 2022.;
“Digital Asset” means a digital asset (also called a “virtual financial asset”, “convertible virtual currency”, “cryptocurrency”, “virtual currency”, “digital currency”, “digital commodity”, or “digital payment token”), such as bitcoin or ether, which is based on the cryptographic protocol of a computer network that may be (i) centralized or decentralized, (ii) closed or open-source, and (iii) used as a medium of exchange and/or store of value.
“Personal Data” typically means any information which, either alone or in combination with other data, enables you to be directly or indirectly identified, such as your name, email address, username, contact details, identification number, location data, an online identifier such as complete IP address, device ID or one or more factors specific to the physical, economic, cultural or social identity of you. Only the personal data from applicable national law of your legal residence will apply to you and be deemed your Personal Data.
For Australian users, we will not adopt identifiers assigned by the Government (such as drivers' licence numbers) for our own file recording purposes, unless one of the exemptions in the Privacy Act 1988 (Cth) (“Privacy Act”) applies. Under Australian law, Personal Data is referred to as 'personal information' and has the same meaning.
“Sensitive information” is Personal Data that includes information relating to a person's racial or ethnic origin, political opinions, religion, trade union or other professional or trade association membership, sexual preferences and criminal record, and also includes health information.
3. WHAT PERSONAL DATA WE COLLECT AND HOLD, AND HOW WE COLLECT IT
Okcoin collects, processes, and stores Personal Data via your use of the Service or where you have given your consent. This Personal Data may include contact details, copies of identification documentation provided by you or derived from publicly accessible databases, your government identification number as well as information relating to your device or internet service (such as an IP address and a MAC number).
To understand how Okcoin protects the data it collects from its users, please see the details below.
Furthermore, we conduct business and collect Personal Data from individuals and entities (“European Residents”) located within the European Economic Area (“EEA”). We are required to protect Personal Data processed in the EEA in accordance with the General Data Protection Regulation (“GDPR”). To understand more about how we protect the data collected from individuals and entities located within the EEA, please see the sections below entitled “Additional Information For Persons Subject To EU Data Protection Law (GDPR)” and “Sending Information to Other Countries.”
We collect information you provide during the Okcoin on-boarding process, which may be a completed, incomplete, or abandoned process. We also collect Personal Data when you communicate with us through customer support, subscribe to marketing communications, correspond with us by phone, email, or other communication channels, or when you conduct a transaction on our website. We may actively or automatically collect, use, store, or transfer your Personal Data, which may include, without limitation, the following:
Personal identification information such as name, email, phone number, nationality, date of birth, address, and government identification information;
Institutional details such as corporate legal name, corporate registration information, government identification number, proof of identity and legal existence, address, business description, and beneficial owner information;
Commercial information such as data related to transactions conducted on the Site;
Financial information such as bank account information;
Correspondence Information such as communication with our Customer Support team and response to user survey;
Information required by regulatory agencies such as state and federal licensing authorities and consumer protection agencies; and
Other identifiers such as device fingerprint data, IP address, and geolocation information.
We will not collect sensitive information about you without your consent, unless an exemption or exception applies. These exemptions or exceptions include if the collection is required or authorized by law, or necessary to take appropriate action in relation to suspected unlawful activity or serious misconduct.
If the Personal Data we request is not provided by you, we may not be able to provide you with the benefit of our Services or meet your needs appropriately. Accordingly, we do not give you the option of dealing with us anonymously or under a pseudonym.
4. UNSOLICITED PERSONAL DATA
5. WHO WE COLLECT PERSONAL DATA ABOUT
The Personal Data we may collect and hold includes (but is not limited to) Personal Data about users, potential users, service providers or suppliers of the Site or our Service, prospective employees, employees and contractors and other third parties with whom we come into contact.
6. HOW WE USE YOUR PERSONAL DATA
Okcoin uses Personal Data to administer, deliver, improve, and personalize the Service for you and to comply with our legal and regulatory obligations. We also may use such data to communicate with you in relation to other products or services offered by Okcoin and/or its partners to consider any concerns or complaints you may have.
We may use and disclose your Personal Data for any of these purposes. We may also use and disclose Personal Data for secondary purposes which are related to the primary purposes set out in this section, or in other circumstances authorized by the law.
Sensitive information will be used and disclosed for the purpose for which it was provided (or a directly related secondary purpose), unless you explicitly consent otherwise, or an exemption under law applies.
Below are specific ways in which we may process your Personal Data:
Provide you with our services. We use your Personal Data to provide you with our Services pursuant to our contractual agreement. For example, we need to know certain financial information to conduct fiat transfers into and out of your account.
Detect and prevent fraud. Your Personal Data is used to detect and prevent fraud.
Protect the security of our Services. We process your Personal Data, such as information about your device and activity, to maintain the security of your account and our exchange.
User/customer support. We process your Personal Data when you contact our Customer Support team to help us address your question.
Enhance our Services. We process your Personal Data to understand how our products and services are being used to improve our services and develop new products.
Product marketing. We process your Personal Data to identify our products and services that we believe may be of interest to you. We may contact you about them. You may opt out of marketing communications with us at any time. If you do not want to receive these communications, please send an email to firstname.lastname@example.org.
Consent. We may use your Personal Data for additional purposes with your consent.
Other business purposes. We may use your Personal Data for other reasonably expected business purposes as permitted by law or required to comply with our legal obligations.
To Whom We Might Disclose Personal Data
Okcoin may disclose Personal Data to:
- Members of our corporate group, which includes our subsidiaries, holding companies and companies under common control including their respective contractors, affiliates, employees or representatives;
- Our service providers and other third parties who assist us in providing Service to you and/or as required or permitted by law or professional standards including, for example, payment processing, customer support, data analytics, information technology, data processing, network infrastructure, storage and tax reporting;
- Entities in connection with corporate transactions involving Okcoin, including any financing, acquisition or dissolution proceedings which involve disclosing a certain portion or all of our business or assets;
- Government entities or other parties to legal process, including law enforcement agencies and authorities, officers, regulators or other third parties to comply with any law, court order, subpoena or government request;.
- Professional advisors, including legal, accounting or other consulting services for purposes of audits or to comply with our legal obligations;
- Consent. We may share or disclose your information with your consent; and
- Other business purposes as permitted by law or required to comply with our legal obligations.
If we disclose your Personal Data to service providers that perform business activities for us, they may only use your Personal Data for the specific purpose for which we supply it. We will take reasonable steps to ensure that all contractual arrangements with third parties adequately address compliance with applicable privacy laws.
Additionally, we have implemented standards to prevent money laundering, terrorist financing and circumventing trade and economic sanctions compliant with their respective local jurisdictions as applicable, which requires us to undertake due diligence on our users. This may include the use of third-party data and service providers which will cross-reference your Personal Data for identity verification, fraud detection and prevention, transaction monitoring, credit verification and security threat detection.
7. HOW WE STORE YOUR PERSONAL DATA
We recognise the importance of securing the Personal Data of our users. We take steps to ensure your Personal Data is protected from misuse, interference or loss, and unauthorised access, modification or disclosure.
Your Personal Data is generally stored in our or our affiliates’ computer databases and/or with third party storage providers. In relation to information that is held on our computer database, we apply data security guidelines to ensure that your Personal Data is managed securely. For more information, refer to the section "Information Security" below.
The data that we collect from you may be transferred to, and stored at, a destination outside of the country of your residence. It may also be processed by staff operating outside of your residence who work for us or for one of our suppliers. By submitting your personal data, you agree to this transfer, storing or processing, except users located in the EEA, as detailed in the section below “Collection and Transfer of Data Outside of the EEA”.
We retain your Personal Data for as long as is reasonably necessary to provide services to you, for our legitimate business purposes, and to comply with our legal and regulatory obligations. If you close your account with us, we will continue to retain your Personal Data as necessary to comply with our legal and regulatory obligations. For example, we are subject to certain anti-money laundering laws which require us to retain records we used to comply with our client identification and due diligence obligations for a period of 5 years after our business relationship with you has ended.
8. SENDING INFORMATION TO OTHER COUNTRIES
Okcoin is a global business and Personal Data may be stored and processed in any country where we have operations or where we engage service providers. We may disclose information to third party storage providers or affiliates that are located outside your country of residence or disclose to third-party storage providers or affiliates that are located outside your country or residence. These recipients may be located in the following countries:
In relation to Australian users, we will not send Personal Data to recipients outside Australia unless we have taken reasonable steps to ensure that the recipient does not breach the APPs or the Privacy Act 1988 (Cth) (“Privacy Act”), the recipient is subject to an information privacy scheme similar to the Privacy Act, or you have consented to the disclosure.
If an Australian user consents to their Personal Data being disclosed to an overseas recipient, and the recipient breaches the APPs, we will not be accountable for that breach under the Privacy Act, and you will not be able to seek redress under the Privacy Act.
Collection And Transfer Of Data Outside Of The EEA
As discussed above, we collect Personal Data from users located in the EEA. To facilitate the Services we provide to users located in the EEA, we request explicit consent for the transfer of Personal Data from the EEA to outside of the area. If you are an individual located in the EEA and you decline to consent to such a transfer, you will no longer be able to use Okcoin and our Services. You will have the ability to withdraw your Digital Assets and fiat currency; however, all other functionalities will be disabled.
If you are in the EEA, we comply with applicable laws to provide an adequate level of data protection for the transfer of your Personal Data to other countries outside of the EEA. Okcoin enters into appropriate data processing agreements and standard contractual clauses approved by the European Commission for the transfer of data. We may transfer Personal Data from the EEA to countries outside of the EEA where the transfers are necessary to satisfy our obligations to you under our User Agreement (including providing you with our Services and to optimize and enhance Okcoin) and where you have consented to the transfer of your personal data to a third country.
9. ACCESS, CORRECTION, AND DELETION OF YOUR PERSONAL DATA
Subject to exceptions set out in the law, you have the right to obtain a copy of your Personal Data upon request and ascertain whether the information we hold about you is accurate and up-to-date. We will provide access within 30 days of your request. If we refuse to provide the information, we will provide reasons for the refusal. We will require identity verification and specification of what information is required before providing you with access. If any of your Personal Data is inaccurate, you may request to update your information. Where we are satisfied that the request to update the information is accurate, we will take reasonable steps to correct the information within 30 days, unless you agree otherwise. You may also request to delete your Personal Data, with the exception that we may refuse your deletion request in certain circumstances, such as compliance with law or legal purposes. For data access, correction, or deletion requests, or to request withdrawal of your previously provided consent, please contact email@example.com with the subject “DATA INQUIRY”.
In response to data access, correction, or deletion requests, we will verify the requesting party’s identity to ensure that he or she is legally entitled to make such request. While we aim to respond to these requests free of charge, we reserve the right to charge you a reasonable fee should your request be repetitive or onerous. Please note that you may not be able to continue receiving the Services, depending on the extent of your withdrawal of consent.
10. CHILDRENS’ PERSONAL DATA
Okcoin does not knowingly offer services to or collect the Personal Data of anyone under the age of 18. If we learn that we have collected Personal Data of anyone under the age of 18, we will promptly delete it from our systems. If you are aware of anyone under the age of 18 using our Services, please notify us so we can take prompt action to prevent access to our Services.
We may only use Personal Data we collect from you for the purposes of direct marketing without your consent if the Personal Data does not include sensitive information, you would reasonably expect us to use or disclose the information for the purpose of direct marketing, we provide a simple way of opting out of direct marketing and you have not requested to opt out of receiving direct marketing from us.
If we collect Personal Data about you from a third party, we will only use that information for the purposes of direct marketing if you have consented (or it is impracticable to obtain your consent) and we will provide a simple means by which you can easily request not to receive direct marketing communications from us. We will draw your attention to the fact you may make such a request in our direct marketing communications.
You have the right to request us not to use or disclose your Personal Data for the purposes of direct marketing, or for the purposes of facilitating direct marketing by other organizations. We must give effect to the request within a reasonable period of time. You may also request that we provide you with the source of the information. If such a request is made, we must notify you of the source of the information free of charge within a reasonable period of time.
We may communicate company news, promotions, and information relating to our products and services provided by Okcoin. We may share Personal Data with third parties to help us with our marketing and promotional projects, or sending marketing communications.
Users can opt out from these marketing communications at any time. If you do not want to receive these communications, please send an email to firstname.lastname@example.org.
For product related communications, such as policy/terms updates and operational notifications, you will not be able to opt out of receiving such information.
12. COOKIE USAGE
set up You can set your browser to block or alert you about these cookies, but this may affect the functionality of Okcoin services or your user experience. Session cookies are added when a user starts to browse our Site or interacts with a specific feature and are deleted when the browser is closed. Persistent Cookies are added when a user starts to browse our Site or interacts with a specific feature, but may remain stored on your device until a certain termination date is reached.
13. INFORMATION SECURITY
We endeavor to protect our website (i.e., www.okcoin.com), our app, and you from unauthorized access, alteration, disclosure, or destruction (or other similar risks) of Personal Data we collect and store. We take various measures to ensure information security, including encryption of our Site communications; required two-factor authentication for all sessions; periodic review of our Personal Data collection, storage, and processing practices; and restricted access to your Personal Data on a need-to-know basis for our employees and vendors who are subject to strict contractual confidentiality obligations.
If you have any questions about information security or report any security issues, please contact us by sending an email to the following address email@example.com with the subject “Information Security Request”.
14. CONTACTING OKCOIN ABOUT PRIVACY QUESTIONS OR CONCERNS
For users from the EEA, you have the right to make a complaint for unresolved questions in relation to the collection, use or disclosure of your Personal Data to the applicable supervisory authority within your jurisdiction.
For users from Australia, if you are not satisfied with our response to your complaint, you can also refer to the Office of the Australian Information Commissioner by:
Telephoning - 1300 363 992
Writing - Director of Complaints, Office of the Australian Information Commissioner, GPO Box 5218, SYDNEY NSW 2001
Emailing - firstname.lastname@example.org
For users from Singapore or Brunei, you may contact the Data Protection Officer at [insert email address].
17. VERMONT CONSUMER PRIVACY STATEMENT
This Vermont Consumer Privacy Statement applies solely to Vermont consumers. Since Okcoin is a licensed money transmitter under Chapter 79 of Title 8 V.S.A it will comply with provisions set form within Regulation B-2018-01. For the purposes of complying with Vermont law, oKCoin will limit the sharing of Vermont consumer information.
Information Okcoin can share:
Will Okcoin Share Vermont consumer information without consent:
Information about your creditworthiness
For nonaffiliates to market to you
Vermont specifically requires consumers to be provided the opportunity to “opt-in” to sharing or to the disclosure of any nonpublic personal financial information pertaining to a consumer to a nonaffiliated third-party for purposes that are not otherwise permitted by Vermont law. The consumer may “opt-in” in writing or electronically.
For Vermont Members/Customers
- We will not disclose information about your creditworthiness to our affiliates and will not disclose your personal information, financial information, or credit report, to nonaffiliated third parties to market to you, other than as permitted by Vermont law, unless you authorize us to make those disclosures.
- Additional questions concerning our privacy policies can be answered by contacting Okcoin at email@example.com.
18. ADDITIONAL INFORMATION FOR PERSONS SUBJECT TO THE EU DATA PROTECTION LAW (GDPR)
For users who are located in the EEA or other locations subject to EU data protection laws (collectively, “European Residents”), we adhere to relevant and applicable EU data protection laws and provide European Residents with the following additional information. For the purposes of this section, Personal Data has the meaning provided in the General Data Protection Regulation (EU) 2016/679 (GDPR).
Legal Basis For Processing Personal Data
We process Personal Data subject to the GDPR on one or more of the following legal bases:
To comply with legal obligations and regulations. To comply with applicable laws, regulations and legal obligations in the United States and in other countries, including “know your customer” obligations based on applicable anti-money laundering and anti-terrorism requirements, financial crime and fraud prevention, suspicious activity reporting, responding to requests from public authorities, complying with economic and trade sanctions requirements, performing customer due diligence, performing audit and risk assessments, preparing tax reports, fulfilling our retention obligations and handling legal claims.
To comply with contractual obligations. To comply with our contractual obligations to you under our User Agreement, including to provide you with our services and customer support services, and to optimize and enhance Okcoin.
Consent. To provide and market our services to you based on your consent. You may withdraw your consent at any time without affecting the lawfulness of processing based on consent before consent is withdrawn.
Legitimate interest. To monitor the usage of Okcoin, fraud prevention, network and information security, conduct automated and manual security checks of our Services, to engage in direct marketing activities and to protect your rights. When we process your personal data for our legitimate interests, we consider and balance any potential impact on you and your rights under data protection laws.
European Privacy Rights
European Residents have the following rights under the GDPR with respect to their Personal Data, subject to certain exceptions provided under the law.
Right to Access and Rectification. You may submit a request that Okcoin disclose the Personal Data we process about you and correct any inaccurate Personal Data.
Right to Erasure. You may submit a request that Okcoin delete the Personal Data that we have about you.
Right to Restriction of Processing and Right to Object. You have the right to restrict or object to our processing of your Personal Data under certain circumstances.
Right to Data Portability. You have the right to receive the Personal Data you have provided to us in an electronic format and to transmit the Personal Data to another data controller.
Right to complain. You may lodge a complaint with a data protection supervisory authority
When handling requests to exercise European privacy rights, we check the identity of the requesting party to ensure that he or she is the person legally entitled to make such a request. While we endeavor to respond to these requests free of charge, should your request be repetitive or unduly onerous, we reserve the right to charge you a reasonable fee for compliance with your request.
We may engage in automated decision-making for purposes of risk and fraud detection. When we do, we implement suitable measures to safeguard your rights and freedoms and legitimate interests, including the right to obtain human intervention, to express your point of view and to contest the decision.
19. ADDITIONAL INFORMATION FOR PERSONS SUBJECT TO THE AUSTRALIAN PRIVACY ACT 1988 (Cth) (“Privacy Act”), INCLUDING THE AUSTRALIAN PRIVACY PRINCIPLES
For Australian users, we do not adopt identifiers assigned by the Government (such as drivers' license numbers) for our own file recording purposes, unless one of the exemptions in the Privacy Act applies. Under Australian law, Personal Data is referred to as “personal information” and has the same meaning.
In relation to Australian users, we will not send Personal Data to recipients outside Australia unless we have taken reasonable steps to ensure that the recipient does not breach the APPs or the Privacy Act 1988 (Cth), the recipient is subject to an information privacy scheme similar to the Privacy Act, or you have consented to the disclosure.
If an Australian user consents to their Personal Data being disclosed to an overseas recipient, and the recipient breaches the APPs, we will not be accountable for that breach under the Privacy Act, and you will not be able to seek redress under the Privacy Act.
20. ADDITIONAL INFORMATION FOR PERSONS SUBJECT TO THE UK DATA PROTECTION LAW (UK GDPR).