Second Meeting of the Experts’ Group on Digital Tokens
From 18 to 20 November 2025, the Experts’ Group (EG) on Digital Tokens met for the second time. The meeting, held in hybrid format, had over 50 registered delegates and other experts, representing 17 HCCH Members and eight Observers, in addition to members of the Permanent Bureau of the HCCH.
Pursuant to its mandate, the EG made further progress on the study of the private international law (PIL) issues raised by digital tokens. Under the EG’s first workstream, participants agreed to begin the drafting of provisions for a PIL framework relating to electronic transferable records (ETRs), fully aligned with the UNCITRAL Model Law on Electronic Transferable Records (MLETR). Under the EG’s second workstream, participants discussed stablecoins and Bitcoin as use cases in the study of PIL issues raised by digital tokens, focusing in particular on issues relating to jurisdiction and applicable law.
The EG will present a report on the progress of its work to CGAP in March 2026.
More information is available on the Digital Tokens Section of the HCCH website.