It is bad news for all. A commodity is not treated as currency in terms of taxes and easiness of trading, thus if this is confirmed we will be exposed to a higher taxation level.
Do not let us be negative about this, but at least look at the positive aspect of things as well. Being treated as a commodity does not necessarily mean it would be over taxed as that would depend on each government anyway and how they want to go about taxing it which I believe there would be leniency.
Nonetheless, at least the fact that the government will recognize it and then legalize it is still a step ahead as far as I am concerned. As long as we start seeing real life usage, it is just more like saying everybody wins, which includes the government and most especially the early holders.