Financial Sector Legislative Review on the Digitalization of Money

Solicitation number FIN-20220497

Publication date

Closing date and time 2022/09/14 14:00 EDT

Last amendment date


    Description

    A safe and secure financial system is a cornerstone of our economy. However, the digitalization of money, assets, and financial services creates a number of challenges that need to be addressed. Budget 2022 announced that the Government is launching the first phase of a financial sector legislative review that will look at the stability and security of the digitalization of money, including cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs).

    Key objectives of the review with respect to the digitalization of money include:

    • Mitigating risks to the security of the financial system posed by digital assets.
    • Maintaining Canadian sovereignty over Canada’s financial sector and economy.
    • Ensuring market confidence by maintaining alignment with the financial sector policy principles of stability, integrity, efficiency, and utility, and addressing risks related to new financial products and services.
    • Ensuring consumers and investors benefit from an accessible, inclusive and effective framework, and are supported, empowered and adequately protected when dealing with products and services.
    • Providing regulatory clarity to businesses and ensure a level playing field.
    • Minimizing opportunities for regulatory arbitrage within Canada and with other major international jurisdictions.

    Contract duration

    Refer to the description above for full details.

    Trade agreements

    • World Trade Organization Agreement on Government Procurement (WTO GPA)
    • Canada-Panama Free Trade Agreement
    • Canada-Korea Free Trade Agreement (CKFTA)
    • Canada-Honduras Free Trade Agreement
    • Canadian Free Trade Agreement (CFTA)
    • Canada-European Union Comprehensive Economic and Trade Agreement (CETA)
    • Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)
    • Canada-Ukraine Free Trade Agreement (CUFTA)
    • Canada-UK Trade Continuity Agreement (Canada-UK TCA)
    • Canada-Chile Free Trade Agreement (CCFTA)
    • Canada-Colombia Free Trade Agreement
    • Canada-Peru Free Trade Agreement (CPFTA)

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    Contact information

    Contracting organization

    Organization
    Department of Finance
    Address
    90 Elgin Street
    Ottawa, Ontario, K1A0G5
    Canada
    Contracting authority
    Plettenberg-Dussault, Nicholas
    Email
    procurement-approvisionnement@fin.gc.ca
    Address
    90 Elgin Street
    Ottawa, ON, K1A 0G5
    CA

    Buying organization(s)

    Organization
    Department of Finance
    Address
    90 Elgin Street
    Ottawa, Ontario, K1A0G5
    Canada
    Bidding details

    Full details regarding this tender opportunity are available in the documents below. Click on the document name to download the file. Contact the contracting officer if you have any questions regarding these documents.

    Tender documents
    Document title Amendment no. Language Unique downloads Date added
    003
    French
    1
    003
    English
    20
    002
    English
    23
    002
    French
    2
    001
    English
    27
    001
    French
    8
    French
    4
    French
    4
    000
    French
    34
    000
    English
    209
    English
    42
    English
    42

    Access the Getting started page for details on how to bid, and more.

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    Summary information

    Notice type
    Request for Proposal
    Language(s)
    English, French
    Region(s) of delivery
    National Capital Region (NCR)
    Region of opportunity
    World
    Procurement method
    Competitive – Open Bidding
    Commodity - GSIN
    Click the links below to see a list of notices associated with the GSIN codes.

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