I think Bitcoin should be classified as a currency instead of an asset, at least in the USA this is something that needs to be changed.
Now the IRS is demanding taxes between each trade, because cryptocurrencies are seen as an asset, so each trade between cryptos is seen as a taxable instance.
I really hope that all cryptocurrencies would be exempt from taxes on each trade, just like with Forex.
It's better in my country, Belgium, as crypto is only taxed when it's exchanged for fiat. You pay a flat rate of 33% on taxes on your profit.
changing the status of bitcoin in each country is very difficult, because every country has its own laws, so making bitcoin recognized as a currency in each country needs support, especially from major countries, but if bitcoin can replace the function of the fiat currency it can facilitate multinational traders , this can be a very good progress for the world trade system, but bitcoin has been recognized as an asset which is a good progress.