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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: 10 December 2025

Daniel Johnson

I will hand over to the deputy convener, Michelle Thomson.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

Daniel Johnson

Good morning, and welcome to the 35th meeting in 2025 of the Economy and Fair Work Committee. Today, we will hold our third evidence session on the Digital Assets (Scotland) Bill. We have apologies from Lorna Slater, and Sarah Boyack may or may not make an appearance as she is moving amendments in another committee.

We are pleased to have with us this morning Greg McLardie, co-founder and chief executive officer of Two Hands; Professor Jill Robbie, professor of property law and the natural environment at the University of Glasgow; and Professor Burkhard Schafer, co-investigator at the Centre for the Decentralised Digital Economy—DECaDE. I ask our committee members and witnesses for concise questions and answers, to help us get through what previous evidence sessions have shown to be an expansive topic.

I will open up the questions. This is a short bill that essentially has the aim of bringing digital assets into Scots law. Do you feel that the bill takes the right approach, and does the way in which digital assets are defined work? The bill defines digital assets as things that arise from electronic systems and that are rivalrous because of the existence of an immutable record of transactions. It is important to make sure that those concepts work. Do you feel that taking the broad approach of using a narrow bill to simply bring digital assets into Scots law is the right thing to do, or do you feel that the bill should cover other aspects? I am happy to go to whoever would like to answer that question first.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

Daniel Johnson

What do you think the potential consequences of that are?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

Daniel Johnson

Greg McLardie, you were referenced, so I will turn to you next. First, the committee has noted that the bill seems to have cryptocurrencies and other such things in mind, yet we have a broad and expansive definition that is certainly not limited to those things. Is that a fair characterisation? Secondly, what are your thoughts in reference to what Professor Robbie has just set out?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

Daniel Johnson

That is a really useful question.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

Daniel Johnson

I am sorry to intervene, but you have touched on some of the points that some of my colleagues might bring up on tokenisation. Thank you very much for those remarks, but I want to bring in Professor Schafer, and I then want to return to the points around terminology—particularly whether the terms “rivalrousness” and “immutability” are well understood.

Professor Schafer, do you have any thoughts on the overall approach? Given that I have flagged that I will ask about those novel concepts, do you also have any contributions on those?

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.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Daniel Johnson

Mr Gray, I will bring you in, given that you work for a firm that specialises in commercial law. Do you agree with those points? Does the bill do what it needs to do in order to capture ownership, or is it missing elements, as we have just heard?