Why are they doing this to crypto world

Bitcoin and other cryptocurrencies are not applicable on a national level. To process the same number of digital transactions currently handled by the national retail systems, the distributed ledger would swell beyond the capacity of servers. With millions of users exchanging hundreds of millions of files, the sheer volume would bring the internet to a halt. This is according to a new report by the Bank of International Settlements (BIS). The report delved into the many limitations that the organization cites as the reasons cryptocurrencies can’t be applied to the mainstream payments system. Inability to scale to meet the ever-rising demand and great power consumed in the mining process are among the other reasons listed in the damning report. In a narrative that has become all too familiar where cryptos are slandered but the blockchain is praised, the organization stated that the blockchain technology holds great promise and could revolutionize many industries in the near future.