The federal government of Canada announced in a budget update released Thursday that it has started discussions on “cryptocurrencies, stablecoins and central bank digital currencies (CBDCs).”
Deputy Prime Minister Chrystia Freeland released the government’s “Fall 2022 Economic Statement” on November 3 as a fiscal update in conjunction with its main annual budget. It focuses on the issue of “currency digitization”, with an emphasis on cryptocurrencies and digital assets and their use on a global scale.
The widespread use of cryptocurrencies is “transforming the financial system in Canada and globally,” and Canada’s financial regulatory framework must “keep up,” the document said while outlining some plans to “address the digitization of currencies.”
In an official document statement, relevant stakeholder consultations on digital currencies, stablecoins, and CBDCs will be launched on November 3. The document did not disclose a list…
