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A new report from major South Korean crypto exchange Bithumb revealed that among South Korea’s Generation Z population, <a href="https://m.news1.kr/articles/?5149195" rel="noopener noreferrer nofollow">Ripple’s XRP token is their top choice of cryptocurrency</a>, surpassing even blue chip coins like Bitcoin and Ethereum.The report states that 82.5 per cent of investors in their 20s have chosen to invest in altcoins, with 20.7 per cent of investors preferring XRP to any other digital asset. Bithumb attributes this trend to the group’s tendency towards ‘aggressive investment”, increased risk appetite, and preference for quick profits over long term investment. In contrast, older investors still prefer to invest in Bitcoin and Ethereum.<h3 id="ripple-s-uncertain-future">Ripple’s uncertain future</h3>Despite the popularity that XRP is enjoying in South Korea, Ripple is facing legal challenges in the US. While a recent court ruling declared that Ripple was not a security when sold on exchanges, the US Securities and Exchange Commission has indicated that it is likely to challenge the ruling with an appeal.Additionally, while cryptocurrencies are popular within South Korea, South Korean authorities have also been cracking down on the industry, with enforcement actions launched as recently as this week, when <a href="https://www.coinlive.com/news-detail/180574" rel="noopener noreferrer nofollow">authorities in the city of Cheongju ordered several crypto exchanges</a>, including Bithumb, to provide information on the holdings of more than 8000 wallets, all of them believed to be tax evaders.An interagency task force to tackle cryptocurrency crime has also been set up in the country, which includes prosecutors and representatives from the National Tax Service, Financial Supervisory Service, and the Korea Customs Service.Source: https://www.coinlive.com/news-detail/180598

XRP emerges as most popular token among South Korean youth

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