Canada's federal government announced it was launching a consultation on "cryptocurrencies, stablecoins and central bank digital currencies," in a fiscal update published Thursday.

The Fall Economic Statement, a mini-budget released by Deputy Prime Minister Chrystia Freeland, is the government's fiscal road map over the coming months. Among provisions on taxes, recovering from COVID-19 and hurricanes, and budget projections was a section on the "digitalization of money," which highlighted cryptocurrencies and digital assets and their use worldwide.

Cryptocurrencies are "transforming financial systems" both in Canada and elsewhere, the document said, adding that Canada's financial regulatory frameworks have to "keep pace."