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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 19 January 2026
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Displaying 1221 contributions

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Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 17 December 2025

The Convener

I will probe some of those points, especially around the fundamental definitions. The bill is framed in terms of things that arise from electronic systems that are “rivalrous” and “immutable”. The legal witnesses said that those last two concepts were clear but that they are not long-standing features of Scots law.

When I look at how other jurisdictions have sought to capture similar concepts, I see that they have gone about it in a slightly different way. That is notwithstanding the other elements, which are part of the wider scope of that legislation. Just in terms of the narrow definitions, the Australian bill, for example—the Corporations Amendment (Digital Assets Framework) Bill 2025—talks about

“an electronic record that one or more persons are capable of factually controlling”.

The bill goes on to describe that “factually controlling” an electronic record means that those people, either solely or jointly, are capable of transferring the electronic record. That captures a similar concept to rivalrousness, but it perhaps does so in plainer language.

Is there a potential issue in relation to using concepts such as rivalrousness and immutability, which are maybe less clear in terms of everyday speech, even if legal experts would claim that they are clear—especially if those terms are novel in Scots law?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 17 December 2025

The Convener

Great. I have a final question. We have heard that law reform is urgently needed in other areas of Scots law, such as private international law and debt enforcement, to accommodate digital assets. That stands to reason. We might be talking about two people who are resident in Scotland exchanging an asset or being in dispute, but they are just as likely to be in different jurisdictions.

Private international law in and of itself might be at the frontiers of what we need to establish, but could the minister outline what the Government is thinking about how that work might be taken forward and what consideration is being given to it?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 17 December 2025

The Convener

Was there a particular reason why it was more appropriate to use the terms in the bill, as opposed to language similar to that used in the Australian bill? Was there a specific reason why Scots law needed those discrete terms rather than a broader description of what rivalrousness or exclusive control might look like?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 17 December 2025

The Convener

Minister, Emma Phillips wants to come in. Would you like to bring her in?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

The Convener

I think that Greg McLardie was also hoping to come in.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

The Convener

Professor Schafer, for the sake of completeness, have you any thoughts on the things that we might be capturing inadvertently? What safeguards might we need to guard against that?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

The Convener

Right at the beginning, you hit on something that caused me concern. If someone creates a document that has some sort of version control mechanism that shows whose hands it has passed through, are they inadvertently creating something that will be captured by the bill? I am just checking that we are in the same terrain.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

The Convener

I would be disappointed if you weren’t.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

The Convener

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: 10 December 2025

The Convener

Great. With that we will end the public part of our meeting. I thank all our witnesses for another very interesting and insightful set of contributions. It has been a hugely helpful session. You have given us a huge amount to go away and think about.

11:02 Meeting continued in private until 11:30.