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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. Session 6: 13 May 2021 to 8 April 2026
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Displaying 1636 contributions

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Economy and Fair Work Committee

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

Daniel Johnson

I will bring in Mr McLardie in a moment, because I know that he is keen to come in.

The bill creates such things but says nothing about how and when they might be exchanged. Whether we like it or not, the ownership and exchange of such things look quite different from the ownership and exchange of regular property. We are bringing them into property law, but we are not setting out how they might be handled, used or exchanged, despite the fact that they are different. We are inadvertently bringing things into property law and then saying nothing about how they should be handled. Is that a fair summary?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Daniel Johnson

My colleague Lorna Slater will come in. Lorna, do you want to ask your main questions, in addition to any supplementary questions that you may have?

09:45  

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Daniel Johnson

Thank you very much for a very interesting set of comments and points of view. There is a lot for us to go away and think about. Thank you very much for your contributions.

11:05 Meeting suspended.  

11:12 On resuming—  

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Daniel Johnson

Welcome to our second panel, with whom we will continue our scrutiny of the Digital Assets (Scotland) Bill.

I am pleased to welcome Dr Alisdair MacPherson, senior lecturer in commercial law, Law Society of Scotland; Dr Hamish Patrick, partner and head of financial sector, Shepherd and Wedderburn; Usman Tariq KC, advocate, Faculty of Advocates; and Professor Burcu Yüksel Ripley, personal chair, school of law, University of Aberdeen. I note that Dr Patrick and Professor Yüksel Ripley are also part of the Scottish Parliament’s academic fellowship scheme.

I will open up the questions. I do not know how much of the session with the previous panel you listened to. In essence, we alighted upon the question of whether the bill covers the full scope of what is required in order to capture digital assets and their transactions. Although the bill captures the scope of the law in relation to digital assets, the principal question is whether it fully captures all forms of digital assets. Critically, when we consider the law in Liechtenstein, we see that it much more explicitly defines trusted technology systems and tokens. It seems to be more explicitly oriented towards capturing blockchain, as opposed to the more catch-all approach that this bill seems to take.

Do witnesses have reflections on whether this bill captures the issues accurately? Are there unintended consequences from the bill being tightly drawn, and are there any gaps?

Who wants to offer a view to open up the evidence session?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Daniel Johnson

I do not intend to necessarily bring absolutely everybody in, but would anybody else like to come in?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Daniel Johnson

If no other members want to ask about immutability, I will hand over to Michelle Thomson, the deputy convener.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Daniel Johnson

I have a supplementary question. Dr Patrick, a little while ago, you made what I think was a throwaway comment, but I just need to ask about it. You said that this would be the first time in any jurisdiction that “rivalrousness” would have been defined. Could we have some clarity on that? Is it used elsewhere in law, and, critically, is “immutability”—

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Daniel Johnson

With that, we have come to the conclusion of our questions. I thank our witnesses for their very insightful contributions. You have given us yet more to think about—I am not sure that we are entirely thankful for that. We will go away and contemplate your evidence during our deliberations.

12:23 Meeting continued in private until 12:42.  

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Daniel Johnson

I will ask another question before I bring in colleagues. I assume that, from your perspective, the purpose of the bill is to facilitate transactions—that is, it needs to capture that digital assets are things that can be owned and therefore can form part of interpersonal or commercial transactions, although I would guess that the transactions will be more in the latter domain. Is that the correct way to understand where the usefulness of the bill lies? To what extent is some of that already happening, both broadly and particularly within the Scots law jurisdiction?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Daniel Johnson

There is centralised control.