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Chamber and committees

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 5 January 2026
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Displaying 867 contributions

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Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 17 December 2025

Gordon MacDonald

Good morning. I want to ask you about a panel of experts. Over the past few weeks, we have heard conflicting evidence about whether Scotland should have a separate panel of experts to provide guidance. It has been suggested that the guidance of the English panel, which has been established since 2020, is publicly available and is neutral to any legal system. However, others have highlighted that Scots property law is very distinct from English property law and that the focus south of the border is very much on financial services, and there are concerns about how people are appointed and about transparency and output. What is the Government’s view on the establishment of a panel of experts? Should there be representation on the English panel, or should a distinct Scottish panel be created?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 17 December 2025

Gordon MacDonald

If we make a recommendation that the panel should be totally separate or that there should be representation on the English panel, how would that come about? Would there be an amendment to the bill, or would it require further legislation?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 17 December 2025

Gordon MacDonald

My final point is slightly different. Earlier, you said that Scotland and the UK are not behind the curve on this issue. However, this morning I read—I had better read this out properly—that HashKey Holdings Ltd in Hong Kong is the first crypto company to list in Hong Kong at $206 million. Is the UK not behind the curve? Those transactions are already taking place.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

Gordon MacDonald

All three of you mentioned that we require an expert group, but we heard evidence from Professor Fox that the UK jurisdiction task force was sufficient, because the advice that was given would be publicly available and neutral to any particular legal system. What would you say in response? You raised it first, Professor Schafer.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

Gordon MacDonald

Good morning. I am looking for clarification on some of the stuff that we have been discussing this morning. The bill is very much a foundation bill, if you like. However, Greg McLardie has referred to the need to protect farmers, while Professor Robbie has suggested the removal of carbon units. What next steps should the Scottish Government take in order to build on this foundation bill? What should it be looking at next to ensure that things do not go out of date?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

Gordon MacDonald

You just said that we need regular oversight. Are the regulation-making powers and the feedback mechanism in the bill sufficient?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Gordon MacDonald

Good morning. I am just looking for a couple of points of clarification, because we have had a good discussion on the subject. I think that it was Peter Ferry who said that we need a team of experts to assist with the whole process. Last week, I asked Professor David Fox some questions, and he suggested that any guidance that comes from the expert group that was created south of the border in England and Wales would be neutral to any particular legal system. Is that enough to guarantee and take into consideration the separate needs of Scots law, or should we have a separate Scottish expert group?

11:00  

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 3 December 2025

Gordon MacDonald

My other point relates to what you have just said. The bill is short and is limited in its scope, quite rightly. It is very much a foundation bill. If we want to ensure that Scotland is a safe place to do business, and noting that we have to get the balance right, what should the next step be, given that there will be a new Government after the election in May next year? What should be the focus of the legislative process in order to maintain momentum in this area, given that legislation could get out of date? This is a fast-moving issue.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 26 November 2025

Gordon MacDonald

That is helpful.

Would the bill benefit from the inclusion of additional regulation-making powers so that the definition of digital assets and the concept of control could be adjusted in the future without the need for primary legislation?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 26 November 2025

Gordon MacDonald

Is there a question about being fleet of foot? Digital asset technology is moving faster than any legislation, so we have to have the ability to amend the definition without going through primary legislation.