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Official Report: search what was said in Parliament

The Official Report is a written record of public meetings of the Parliament and committees.  

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Dates of parliamentary sessions
  1. Session 1: 12 May 1999 to 31 March 2003
  2. Session 2: 7 May 2003 to 2 April 2007
  3. Session 3: 9 May 2007 to 22 March 2011
  4. Session 4: 11 May 2011 to 23 March 2016
  5. Session 5: 12 May 2016 to 4 May 2021
  6. Current session: 13 May 2021 to 2 February 2026
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Displaying 1970 contributions

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Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Michelle Thomson

Peter Ferry may want to come in, but I will bring in Jamie Gray first, to reflect on this area from a legal perspective. Part of your role involves being cognisant of risk and speaking to your clients about that.

On balance, therefore, all things considered—we have considered a lot of things thus far—do you think that the bill, simple though it is, and we understand why that is the case, will enhance economic opportunity? In other words, when you walk your clients through a risk assessment, will you have increased confidence that the law is protecting them?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Michelle Thomson

I will ask about a couple of areas. We have had quite a prolonged discussion about getting the balance right. The genesis, if you like, of the bill is in good legal principles, yet it is attempting to bolt something on that is highly complex and moving at pace with developments in technology.

One of the scenarios that I posed picked up the convener’s point about immutability and where autogenerated AI comes to the fore where, instead of someone changing something in the ledger, you have a thing changing a thing in the ledger. I do not want to go into detail to the nth degree on AI, but what I was trying to explore with the previous panel of witnesses was whether we have the framing of the bill right in terms of immutability, because that is a fundamental principle that is understood in law, but it is crashing into technology. I am using that as an example. Have we got the balance right? Do we need to go deeper, in guidance or understanding, or are we happy to let things evolve? I know that that is quite an open question—do not all rush at once. Dr Patrick, you smiled at me, so you can go first.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Michelle Thomson

I am not a lawyer and I am not claiming any expertise, but my simple view is that, if the framing of some legislation, even though it is simple, ticks the box that either protects people when something happens or engenders confidence for further activity—although it is quite light touch and I know that the situation is more complex than that—that is not necessarily a bad thing. I have expressed that simplistically, but I am trying to explore this. I used immutability and AI simply as an example—there may be other considerations—but what I am trying to explore from a legal perspective is whether the bill has the right touch.

Also, this is a slightly different thread, but the Faculty of Advocates consultation response referred to value and the fact that the provision on that should not be worded in the negative in the bill. I wanted to pick that up with you, but perhaps we can stay on the other question for now.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Michelle Thomson

It could be the first that some of us have heard.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Michelle Thomson

You have given a very clear and comprehensive explanation, so thank you very much.

To bring in Professor Yüksel Ripley and Dr MacPherson, I want to get a sense of whether the bill’s framing as it is currently documented is in the right place.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Michelle Thomson

I am always open minded enough to hear more about AI.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Michelle Thomson

Thank you.

Mr Tariq, the faculty’s commentary is that the bill’s good-faith provision is expressed in the negative and you would rather see it expressed in the positive, but I want to flesh that out a bit more.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Michelle Thomson

That is very useful. Thank you very much.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Michelle Thomson

That is good.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Michelle Thomson

Peter Ferry, I have not given you a chance to come in. Do you have any final reflections before I hand back to the convener?