Unfortunately I don't know what all the ramifications of such a change would be. The issue involves much more than simply recognizing the existence of electronic cash.
In Canada, for several years now, we've been asking that consumers be made aware of any harmonization procedures that are initiated and the responsibility that each party has when corrections to mistakes are made, when there are losses, thefts, solicitation, etc. These are all part of a much broader issue than simply that of including electronic cash in the Currency Act.