Now that they have classified it as cash equivalent,there is a possibity that the government can already find a way to have their share in the transaction like applying taxes into it. Bitcoin transactions are one of the threat for them that their tax collections will be lesser because more people will use bitcoin instead of transacting to banks or money exchange and if they can control bitcoin transaction then they will have a share of it. It's good for bitcoin that it's already recognized which means its getting really popular but the bad news of it is that there is a possibility of it being controlled by the government.