Also known as an alternative currency, a cryptocurrency is used by people worldwide and is not regulated by any national government. The fact that this currency is a financial exchange existing outside the limits of any state monetary policy makes it very empowering and popular.
In the beginning of 2017, there came a proposal by Cameron Winklevoss and Tyler, which was rejected later by the U.S. Securities and Exchange Commission. The infamous duo claimed that Mark Zuckerberg, the trail-blazer and founder of Facebook, had stolen their idea and built Facebook. They came to add more that this happened during their Harvard days and when they planned to launch a Bitcoin-based Exchange-trade Fund (ETF). The decision of SEC came after almost 4 years since the duo filed for regulatory approval.