As cryptocurrencies have entered the mainstream, government and central banks around the world have begun to sit up and take notice of the potentially disruptive impact that a decentralised digital currency could have on the global financial ecosystem.

The past few months have seen governments from across the globe take action to either regulate or ban cryptocurrency trading and the use of Blockchain technology. However, these steps have often been met with a backlash from citizens who wish to take advantage of the benefits offered by cryptocurrencies such as bitcoin.

When South Korea announced that it was considering a range of options to control and possibly prohibit cryptocurrency markets in the country the pushback was swift. Angry citizens have filed a petition with 200,000 signatures on it with the countries parliament and now wait for an official response from the government. The countries president has already begun to backtrack by suggesting that no ban was imminent. 

However, due to their global reach, cryptocurrency exchanges are incredibly hard to suppress. When China launched a crackdown in 2017, many exchanges relocated to other countries so they could continue to operate. All the signs suggest that no matter how hard governments and central banks try, the cryptocurrency revolution cannot be stopped.