Edit: note that there also is some middle ground. For example, Germany considers Bitcoin as means of payment for VAT purposes without declaring it a currency or commodity.
The potential significance of Switzerland in Bitcoin recognition this should be clarified. SIX Interbank Clearing, the organization that act as registrar for ISO4217-A3 currency codes (ie. codes like 'USD', 'EUR', etc.) on behalf of the ISO, and also SWIFT BIC codes (IIRC), is based in Switzerland. Jon Matonis from the Bitcoin Foundation approached them earlier this year about issuing an official XBT codepoint for Bitcoin, but they denied the request claiming that requests for codepoints much be made in writing from an existing national bank (subtext: from a UN-recognized country in that other ISO list).
My own proposal is to sidestep the ISO entirely and use IANA to register currencies or currency-like commodities as a means to achieve the unambiguous identification of such within multi-currency financial transfer systems, such as present era math based currency exchange businesses like my employer (Payward/Kraken). More details on that over here:
Ultimately even if the Bitcoin Foundation doesn't support such standardization (and it probably will; I literally have a draft in my inbox to Jon since Friday) I am fairly confident that the new self regulating industry body we have founded, DATA, will. http://info.datauthority.org/
We live in interesting times, and the goal is clear. As Iain Coke, Head of Financial Services Faculty, Institute of Chartered Accountants (UK) said so eloquently in The Telegraph last year: In order to regain trust in banking, what is needed is a real change in culture, embedding integrity and eradicating the 'what can I get away with' attitude.