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Published by The Scottish Parliamentary Corporate Body
Stage 1 Report on the Digital Assets (Scotland) Bill
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Published: Thursday 15 Jan 2026 (EFWS062026R01)
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Overview
Report
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Overview
Report
Introduction
Purpose of the Bill
What does the Bill do?
Why legislation is needed
Parliamentary Scrutiny
Finance and Public Administration Committee
Delegated Powers and Law Reform Committee
Digital Assets (Scotland) Bill
Section 1 - Meaning of digital assets
How digital assets are defined in the Bill
The concept of rivalrousness
The requirement for "an immutable record"
The requirement to exist separately from the legal system
General approach to the definition of digital assets
Exclusions
Exclusion of Electronic Trade Documents (ETDs)
Exclusion for Securities traded on CREST
Exclusion for voluntary carbon units
Other concerns
Section 2 - Nature of digital assets in Scots law
Sections 3, 4 and 5
Sections 3 and 5 - Presumption of ownership and Exclusive control: meaning and presumption
Acquisition and transfer of digital assets
The concepts of 'control' and 'exclusive control'
Section 4 - Transfer of ownership
Acquisition in good faith
Risks to adopting a good faith acquirer rule
Other issues related to the Bill
A panel of experts for Scotland
Tokenisation
Impact of giving items property law status
Regulation-making powers/flexibility
Environmental impact
Jurisdiction issues
Other areas of law reform needed to create an effective regime for digital assets
Enabling the Scottish economy to get maximum benefit from digital asset technologies
Conclusion
Recommendation
Annexe A - Extract of Minutes
Annexe B - Evidence and information gathered
Oral evidence (and associated submissions and correspondence)
Other written submissions (individuals)
Other written submissions (organisations)
Other correspondence
Sources
Image: Four categories of property recognised in Scots law
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Scottish Government. (2025, September 30). Digital Assets (Scotland) Bill - Policy Memorandum. Retrieved from
https://www.parliament.scot/-/media/files/legislation/bills/s6-bills/digital-assets-scotland-bill/introduced/spbill75pms062025accessible.pdf
Scottish Parliament. (2025, November 18). Digital Assets (Scotland) Bill - SPICe Briefing. Retrieved from
https://digitalpublications.parliament.scot/ResearchBriefings/Report/2025/11/18/46ab3587-0857-4c31-8332-b827322a81af#539facca-8693-4a23-887d-714d6e170f9e.dita
Scottish Parliament. (2025, September 25). Digital Assets in Scots Law (Research Briefing). Retrieved from
https://digitalpublications.parliament.scot/ResearchBriefings/Report/2025/9/25/df77b250-0ee0-4298-82ba-20fe6e304591
The Scottish Parliament. (2025, November 26). Official Report of the Economy and Fair Work Committee. Retrieved from
https://www.parliament.scot/chamber-and-committees/official-report/search-what-was-said-in-parliament/ssblrc-26-11-2025?meeting=16714
Scottish Government. (2025, September 30). Digital Assets (Scotland) Bill - Financial Memorandum. Retrieved from
https://www.parliament.scot/-/media/files/legislation/bills/s6-bills/digital-assets-scotland-bill/introduced/spbill75fms062025accessible.pdf
Scottish Government. (2025). Digital Assets (Scotland) Bill - Explanatory Notes. Retrieved from
https://www.parliament.scot/-/media/files/legislation/bills/s6-bills/digital-assets-scotland-bill/introduced/spbill75ens062025accessible.pdf
The Scottish Parliament. (2025, December 3). Official Report of the Economy and Fair Work Committee. Retrieved from
https://www.parliament.scot/chamber-and-committees/official-report/search-what-was-said-in-parliament/EFW-03-12-2025?meeting=16734
Academics from University of Aberdeen, Dr Alisdair MacPherson and Professor Burcu Yüksel Ripley. (2025). Written Submission. Retrieved from
https://yourviews.parliament.scot/efw/digital-assets-scotland-bill/consultation/view_respondent?uuId=737734616
Greg McLardie, CaroKilt Ltd trading as Two Hands. (2025). Written submission. Retrieved from
https://yourviews.parliament.scot/efw/digital-assets-scotland-bill/consultation/view_respondent?uuId=1004374751
Dr Hamish Patrick. (2025). Written submission. Retrieved from
https://yourviews.parliament.scot/efw/digital-assets-scotland-bill/consultation/view_respondent?uuId=83006356
Professor Jill Robbie. (2025). Written submission. Retrieved from
https://yourviews.parliament.scot/efw/digital-assets-scotland-bill/consultation/view_respondent?uuId=958683148
zeroShadow. (2025). Written submission. Retrieved from
https://yourviews.parliament.scot/efw/digital-assets-scotland-bill/consultation/view_respondent?uuId=460227965
Dr Hamish Patrick. (2025, December 4). Additional written submission. Retrieved from
https://www.parliament.scot/-/media/files/committees/economy-and-fair-work-committee/annex/additional-written-submission-from-dr-hamish-patrick.pdf
The Digital Trust Centre of Excellence. (2025). Written submission. Retrieved from
https://yourviews.parliament.scot/efw/digital-assets-scotland-bill/consultation/view_respondent?uuId=353223588
The Scottish Parliament. (2025, December 17). Official Report of the Economy and Fair Work Committee. Retrieved from
https://www.parliament.scot/chamber-and-committees/official-report/search-what-was-said-in-parliament/recent-publication?meeting=16766&recentOR=true
Professor Burcu Yüksel Ripley and Dr Alisdair MacPherson. (2025, December 19). Additional written submission. Retrieved from
https://www.parliament.scot/-/media/files/committees/economy-and-fair-work-committee/correspondence/2025/digital-assets-bill-19-december-2025.pdf
Lord Hodge. (2025, December 19). Additional written submission. Retrieved from
https://www.parliament.scot/-/media/files/committees/economy-and-fair-work-committee/correspondence/2025/additional-written-submission-from-lord-hodge.pdf
The Scottish Parliament. (2025, December 10). Official Report of the Economy and Fair Work Committee. Retrieved from
https://www.parliament.scot/chamber-and-committees/official-report/search-what-was-said-in-parliament/EFW-10-12-2025?meeting=16749
Harrie Bickle. (2025). Written submission. Retrieved from
https://yourviews.parliament.scot/efw/digital-assets-scotland-bill/consultation/view_respondent?uuId=869467145
Professor Andrew Steven. (2025). Written Submission. Retrieved from
https://yourviews.parliament.scot/efw/digital-assets-scotland-bill/consultation/view_respondent?uuId=1047227476
Imran Asim Hayat. (2025). Written submission. Retrieved from
https://yourviews.parliament.scot/efw/digital-assets-scotland-bill/consultation/view_respondent?uuId=166945095
The Law Society of Scotland. (2025). Written submission. Retrieved from
https://yourviews.parliament.scot/efw/digital-assets-scotland-bill/consultation/view_respondent?uuId=784356906
Professor Burkhard Schafer. (2025). Written submission to the Scottish Government Call for Views on Digital Assets (Scotland) Bill. Retrieved from
https://consult.gov.scot/financial-services/digital-assets-in-scots-private-law-consultation/consultation/view_respondent?uuId=541031289
Scottish Government. (2025, September 30). Digital Assets (Scotland) Bill - As Introduced. Retrieved from
https://www.parliament.scot/-/media/files/legislation/bills/s6-bills/digital-assets-scotland-bill/introduced/spbill75s062025.pdf
Professor Marco Goldoni. (2025). Written submission. Retrieved from
https://yourviews.parliament.scot/efw/digital-assets-scotland-bill/consultation/view_respondent?uuId=288777875
Dumfries and Galloway Council. (2025). Written submission. Retrieved from
https://yourviews.parliament.scot/efw/digital-assets-scotland-bill/consultation/view_respondent?uuId=101844910
Professor Burcu Yüksel Ripley, Dr Alisdair MacPherson and Professor McKenzie Skene. (2025, December 22). Additional written submission. Retrieved from
https://www.parliament.scot/-/media/files/committees/economy-and-fair-work-committee/correspondence/2025/second-additional-written-submission-from-professor-yuksel-ripley-dr-macpherson-and-professor-mckenz.pdf
Greg McLardie. (2025, December 17). Additional written submission. Retrieved from
https://www.parliament.scot/-/media/files/committees/economy-and-fair-work-committee/correspondence/2025/additional-written-submission-from-greg-mclardie.pdf
Last Updated: 15/1 8:05pm
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