First Working Meeting of the Digital Tokens Project
In March 2024, the Council on General Affairs and Policy (CGAP) decided to commence the Digital Tokens Project (see Conclusion & Decision No 12). Under this project, the Permanent Bureau (PB), in partnership with relevant subject-matter experts and Observers, is studying the private international law issues relating to digital tokens.
Following a kick-off meeting on 15 May 2024, where participants were first introduced to the project’s Scope Paper, the first working meeting of the Digital Tokens Project was held in hybrid format from 10 to 14 June 2024, hosted by the PB in The Hague. The meeting was attended by 44 participants, identified to the PB by 13 Members and 7 Observers, as well as by members of the PB.
The first working meeting focused on an iterated Scope Paper, which sets out foundational questions directed at the scope of the Digital Tokens Project. Participants discussed relevant international, regional and national legal frameworks relevant to digital tokens; considered examples of digital tokens (and their potential use cases) that may be considered within the scope of the Project; and assessed the role of party autonomy and connecting factors in determining the private international law issues relating to digital tokens (and their potential use cases).
Following this meeting, participants have been invited to provide written submissions in response to specific topics selected for intersessional work.
The second working meeting of the Digital Tokens Project will be held in October 2024. The PB will submit a report of the outcomes of this phase of the Digital Tokens Project, including proposals for next steps, to CGAP ahead of its 2025 meeting.