High speed cabled communications is a rather involved subject...
At higher frequencies you have lots of things to consider:
1. The resistance of the cable
2. The capacitance of the cable
3. The inductance of the cable
All these add up to basically form a low-pass filter, which limits the maximum frequency that can be transmitted down the line with minimum attenuation.
Note that this frequency isn't the data speed, but the signal frequencies. Your perfect digital signal is a perfect square wave. However, any square wave has many high frequency harmonics above the base frequency, and the perfect square wave has infinite harmonics (not actually achievable, but good for illustration purposes).
The low-pass nature of the cable causes these high frequency harmonics to be attenuated, so the nice clean, sharp edges of the square wave become more and more rounded, until at the worst case, you end up with a sine wave at the base frequency. Not ideal.
It's this rounding of the signal that, to a large extent, dictates the maximum data rate that can be transmitted down a line. You have to have enough time for the signal to rise to the HIGH level, be sampled at the far end, and fall to the LOW level, to be sampled again.
Then on top of all that there is, for very long communications lines, the actual time taken for the signal to travel down the line. Normally you don't think about that kind of thing at low speeds and short distances, because the times are so unmeasurably small as to be ignored. But, with extremely long lines there may be a considerable lag between the sending of a bit at one end and that bit appearing at the other end.
It all gets a bit messy.
And to top it all off, there's something called "The Skin Effect". This only affects the sending of an AC signal down wire - which any communication signal effectively is - whereby the signal only travels at the surface of the conductor. The higher the frequency, the thinner the layer that the signal is actually in. The thinner the layer, the greater the losses due to resistance.
Like I said, it's a very involved subject.