Summary of the 9th Meeting of the Central Bank Digital Currency Liaison Council

The Bank of Japan has published the minutes from the 9th meeting of the Central Bank Digital Currency (CBDC) Liaison Council on June 4, 2025. The meeting covered discussions about:

• Progress updates from the Bank of Japan on CBDC pilot experiments and international developments
• Key concerns from various financial industry associations about:

• Standardization and interoperability issues
• Cost burden and system implementation challenges
• The role of CBDC relative to existing payment methods
• Privacy protection vs. data utilization
• Cross-border payment implications

• Ministry of Finance presentation on the Second Interim Summary of the Inter-Ministry CBDC liaison meeting