Kick-off Meeting of the Experts’ Group on Central Bank Digital Currencies

In March 2024, the Council on General Affairs and Policy (CGAP) decided to establish an Experts’ Group to study the applicable law and jurisdiction issues raised by the cross-border use and transfers of CBDCs (see Conclusion and Decisions Nos 9 and 10 of CGAP 2024). Following on this decision, the Secretary General of the HCCH convoked the Experts’ Group on Central Bank Digital Currencies (EG on CBDCs) for its first meetings.

On 14 May 2024, the kick-off meeting of the EG on CBDCs was held online, hosted by the Permanent Bureau (PB) in The Hague. The meeting was attended by 42 delegates and other experts, representing 33 Members and nine Observers, as well as by members of the PB.

The kick-off meeting introduced questions in a draft Scope Paper, which forms the foundation for the work to be conducted by the EG over the coming year, and which will be iterated on the basis of input from the delegates and other experts participating in the EG on CBDCs. The EG on CBDCs also discussed its working methodology and the outcomes of the exploratory study on the private international law aspects of CBDCs that took place in 2023.

The EG will meet again for working meetings in June and November 2024 and will report on the progress of its work to CGAP at its 2025 meeting.

More information on the CBDCs Project is available on the HCCH website.