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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 15 December 2025
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Displaying 2458 contributions

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Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Willie Coffey

Public trust has to be a key incentive there. Did Liechtenstein basically achieve that? What model did it use to get that trust in the system, and could Scotland follow that?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Willie Coffey

Good afternoon. I want to hear your views on the issue of developing a potential remedy. At the moment, no one is breaking the law on that, because it does not exist. However, as soon as the bill becomes an act, people could potentially start breaking the law regardless of whether they intended to do so. Should a specific remedy be developed that looks different to what we have at the moment, to establish whether a crime has been committed in that sphere?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Willie Coffey

Will there be a stablecoin launch in the UK any time soon?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Willie Coffey

Thank you for your answers to my questions.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Willie Coffey

Professor Yüksel Ripley, have you any comments on that?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Willie Coffey

Good morning. As a former software engineer and computer scientist, I am still struggling to get through some of this—I do not mind admitting that. I love the earlier quote about this possibly being the first benefit of Brexit. I do not remember it being in the manifesto at the time; I do not remember anybody rushing to put it into print that we are moving towards—

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Willie Coffey

I can just see the Brexiteers coming forward any time now and saying that the move to a blockchain-tokenised economy was always part of their intention.

I was hoping to ask you a wee bit more about the jurisdiction issues that Kevin Stewart introduced. If the bill becomes law, where will Scotland be placed, in comparison with other jurisdictions, on issues that might arise from its implementation? I am thinking about remedy, redress, fraud and so on.

The language for describing this stuff is quite difficult, but where do we stand if a person has an asset, whether that is a token or something else, and that person feels that they have been robbed—that their asset has been stolen, transferred without their will and so on? How will the bill help with that? Is Scotland in a position to do anything about it?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Willie Coffey

That is fascinating. You talked earlier about how, if you were to give Peter your token, he would have acquired it—he would own it. However, possession is not ownership. What if he stole it? How would the system know whether he acquired it illegally or otherwise?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Willie Coffey

Thank you for that.

Peter, do you have any comments on jurisdiction and how we could introduce more protections or think ahead to scenarios of the kind that we have just discussed?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Willie Coffey

My final query is on stablecoins, which I think you have all mentioned. It is another type of cryptocurrency, which is pegged to a stable currency. I read this morning that 10 European banks are planning to launch a stablecoin next year. Where are we in Scotland or in the UK compared with that initiative in Europe?