You're right. Bitcoin should be treated as a commodity because it doesn't really act as a currency, not for now at-least. The transaction fee is too high(LN might be the answer to that, learning more about it right now)and it is too volatile in nature. And that is what I think the author and I meant. Not to be treated as shares but to be allowed it to be traded on stocks exchange.

And if you think about it some of the commodities are almost equal to currency. Take Gold/Silver for instance. Their value is almost same everywhere, depending on different charges and purity ie but what I mean is one can sell/buy it almost everywhere. Same is with Bitcoin. Even if it is not given the currency status, you'll still be allowed to trade it for whatever you want.

It is happening even now. Some of the place you spend bitcoins at. They don't take bitcoins directly. They use services which convert the bitcoins to fiat at the current price and transfer the money to them for a fee. And once Bitcoin is allowed to be traded in India at stock market. People who don't even understand or know Bitcoin. Can begin accepting it with a service provider in between their clients and themselves.

So, I totally agree with you. That it needs a very clear easy to understand legal status. So, anyone who understands the technology can invest in it, use it, make applications with it, trade it and do it without having to be worried about getting scammed or getting in trouble.