Group 1 - The report discusses the legal aspects of token-based Central Bank Digital Currencies (CBDCs), emphasizing their novelty compared to account-based digital currencies [8][18][22] - It highlights that 94% of surveyed central banks are exploring CBDCs, with some already issuing digital currencies [8][9] - The report defines token-based CBDCs as a form of currency issued by central banks, representing a direct legal relationship between the holder and the central bank [10][18][22] Group 2 - The legal nature of token-based CBDCs is crucial for understanding their treatment under property law, which affects ownership rights and transferability [37][38] - The report outlines three potential holding structures for token-based CBDCs: direct control by holders, direct relationship with the central bank, and indirect holding through intermediaries [30][31][32] - It emphasizes the need for a robust legal framework to ensure that token-based CBDCs can function effectively within the monetary system [35][36]