As software glitches thrust bitcoin back into global scrutiny, Canadian regulators are looking at ways of getting a better handle on the digital currency.

In an undated internal document, the Financial Transactions and Reports Analysis Centre of Canada, the Canadian government agency which licenses Canadian-operated foreign-exchange businesses, identified several ways to regulate and mitigate the risk of using bitcoin in Canada.

The document was obtained through an Access to Information request, and the Department of Finance, the Canadian government ministry which manages FINTRAC, declined to comment on the document or on any plans to regulate bitcoin. It's not clear from the document whether the government is poised to take action or is simply assessing options.

One option FINTRAC listed in the document was to "choke bitcoins oxygen (sic)" by denying Canadians access to the foreign-exchange market, as first outlined by the Association of Certified Anti-Money Laundering Specialists.

FINTRAC said it would also consider regulating bitcoin exchange houses to make sure they would provide the same financial crime reporting requirements as other exchanges.