Crypto users between 30 and 39 years quondam are the demographic with the most deposits on major exchanges in South Korea.

Co-ordinate to a Dominicus study from the Yonhap News Bureau, Due south Korean residents in their thirties deposited roughly 2.ii trillion Korean won — $i.9 billion at the time of publication — to crypto exchanges Upbit, Bithumb, Coinone and Korbit past the finish of the 2d quarter of 2022. Due south Korean teenagers have the fewest deposits at $3.4 million, but this was still an increase of more than 400% compared with the $824,000 that they deposited in Q1 2022.

"All age groups are investing in virtual assets," said Doo-Hyun Yoon, a fellow member of the National Associates'south Political Affairs Commission. "The government needs to be more conscientious in setting up policy on virtual assets, including paying special attending to the position of immature investors."

Upbit users accounted for the majority of the deposits, with 3.v billion Korean won, followed by Bithumb and Coinone. This month, Upbit reportedly became one of the first South Korean crypto exchanges to register with the country's regulators. Earlier this year, the Financial Services Commission announced that local crypto trading platforms will be required to register as digital asset service providers earlier Sept. 24.

Related: South Korean FSC denies plans to close downwardly 11 crypto exchanges

Equally major crypto exchanges work to run into this deadline, smaller exchanges accept reportedly considered suing the Due south Korean regime over its alleged failure to take responsibility for excessive regulatory pressure level. Nether the new regulations, exchanges not in compliance may exist fined upwardly to 50 million Korean won or sentenced to up to v years in prison.