NEWS ANALYSIS
Bitcoin and other cryptocurrencies have been dealt another indictment, this time by the Bank for International Settlements (BIS), which thoroughly nixed their ability to function as money.Known as the central bank for central banks, the Switzerland-based BIS reiterated the many shortfalls cryptocurrencies face, including their lack of scalability, vulnerability to fraud and other manipulation, inability to properly satisfy basic payment functions, and even their unleashing of environmental damage.
