based on the photo above with instructions please provide the answer/ your opinion with clear explanation

Bitcoin... Is it a bird? Is it a plan? No, it's a According to the Collins dictionary, Bitcoin is "a system of open source peer-to-peer software for the creation and exchange of (payment in) a certain type of cryptocurrency" Transactions of bitcoin are verified and recorded in public distributed ledger called blockchain. Bitcoin is going through an identity crisis! The SEC treats Bitcoin as a security or money. FinCEN treats Bitcoin as currency. The IRS treats Bitcoin as property. The CFTC treats Bitcoin as a commodity. Other regulatory authorities in Europe and Asia also have their own definitions! In your opinion, what is the most appropriate definition and why? Should Bitcoin and other cruptocurrency be regulated? If so, how