A digital asset is any item that exists in digital format and can be identified, stored, and traded electronically. An example of a digital asset is cryptocurrency.
The Bill makes it clear that digital assets should be seen as a type of property in law.
This is a Government bill
The Bill was introduced on 30 September 2025 and is at Stage 1
This Bill is at Stage 1 of the process to decide if it should become an Act.
The Bill:
The Scottish Government’s Programme for Government has a commitment to ‘clarify the status of digital assets as property in Scots private law, to provide greater legal certainty for individuals and for businesses including those investing in digital assets, for technology and financial start-ups, as well as for the legal sector’.
Since digital assets are a new thing, the Scottish courts haven’t yet been able to think about their legal status. This means that there is no body of case law to help provide the answers needed about digital assets as objects of property for individuals, businesses and legal practitioners.
The Scottish Government is concerned that this lack of legal certainty may discourage tech developers and digital asset owners from choosing Scots law to govern their dealings with digital assets. Those whose dealings with digital assets are governed by Scots law may also be at risk of finding that they are operating in an area of legal uncertainty.
The Digital Assets in Scots Private Law: Expert Reference Group looked at these issues and made recommendations. These recommendations led to the Scottish Government introducing this Bill to the Parliament.
Digital Assets (Scotland) Bill as introduced (277KB, pdf) posted 30 September 2025
Explanatory Notes (244KB, pdf) posted 01 October 2025
Policy Memorandum (238KB, pdf) posted 01 October 2025
Financial Memorandum (138KB, pdf) posted 01 October 2025
Delegated Powers Memorandum (130KB, pdf) posted 01 October 2025
Statements on legislative competence (110KB, pdf) posted 01 October 2025
Explanatory Notes (303KB, pdf) posted 30 September 2025
Policy Memorandum (272KB, pdf) posted 30 September 2025
Financial Memorandum (200KB, pdf) posted 30 September 2025
Delegated Powers Memorandum (214KB, pdf) posted 30 September 2025
Statements on legislative competence (161KB, pdf) posted 30 September 2025
All Bills introduced in the Parliament must be accompanied by specific documents. For most Bills, this includes:
Explanatory Notes: this document provides an overview of what the Bill does, plus a more detailed explanation of individual provisions.
Policy Memorandum: this sets out the objectives of the Bill. It also lists any alternatives considered, details of consultations, and an assessment of the effects of the Bill on a range of areas.
Financial Memorandum: this sets out estimates of costs, savings, and any changes to revenues expected to result from the Bill.
Delegated Powers Memorandum: this is needed if a Bill gives powers to make subordinate legislation or allows Scottish Ministers to issue directions, guidance or codes of practice.
Statements on legislative competence: two short statements, one by the Presiding Officer and one by the Member introducing the Bill. “Legislative competence” means the powers the Parliament has to make law.
The Scottish Parliament's Information Centre (SPICe) prepares impartial research and analysis to assist MSPs in their examination of Bills and other parliamentary business.
A research briefing will be published in due course.
The Bill was introduced on 30 September 2025
At Stage 1, the Bill is given to a lead committee. This is usually the committee whose remit most closely relates to the subject of the Bill. The lead committee will consider and report on the Bill. Other committees may also examine the Bill and report to the lead committee. Finally, there is a debate and vote by all MSPs on the general principles of the Bill. If the general principles are not agreed to, then the Bill ‘falls’ and can’t become law.
The lead committee for this Bill is the Economy and Fair Work Committee.
The lead committee will usually examine the Bill through evidence sessions. This will involve contributions from individuals and organisations, known as 'witnesses', with knowledge of the subject matter. The committee might also discuss the Bill in private sessions.
The lead committee will publish a Stage 1 report before the debate on the general principles of the Bill.