G7 report: cryptocurrencies, including bitcoin, fail to provide reliable payment or storage value

The G7 report released that cryptocurrencies, including Bitcoin, have so far failed to provide "reliable and attractive" payment or storage value. According to the report, cryptocurrencies are not a solution because they are highly variable, have scalability limitations, complex user interfaces, and other governance and regulatory challenges. “Therefore, for some investors and investors engaged in illegal activities, crypto assets are more of a highly speculative asset class than a means of making payments,” the organization said.