SP Bill 75A 6 (2026) Session 2 Digital Assets (Scotland) Bill (1A) But a person (“the transferee”) becomes the owner of a digital asset, despite the person who transferred control of the asset to the transferee (“the transferor”) not being the asset’s owner, if— (a) the circumstances of the transfer were such that, but for the transferor not being 5 the asset’s owner, it would have resulted in the transferee becoming the asset’s owner, and (b) the transferee took the asset in good faith and for value. (1B) Where a person (“the transferee”) acquires ownership of a digital asset from a person whose title as owner of the asset is defective, the transferee’s title is free from that 10 defect provided the transferee took the asset in good faith and for value. 1 (3) In subsection (1), “rule of law” does not include an enactment. 5 Exclusive control: meaning and presumption (1) This section makes provision about determining who has exclusive control of a digital asset for the purposes of this Act. 15 (2) A person has control of a digital asset if the person has the ability to initiate in relation to it— (a) a transfer transaction within the electronic system giving rise to the asset, or (b) if the system does not facilitate transfer transactions, a divestiture transaction within the system. 20 (3) A person’s control of a digital asset is exclusive if only that person has control of the asset. (4) A person’s control of a digital asset is presumed to be exclusive (unless the contrary can be shown). (5) In this section— 25 “divestiture transaction” means a transaction that results in no person being able to initiate any further transaction in relation to the asset, “transfer transaction” means a transaction that results in— (a) the person who initiated the transaction losing the ability to initiate a transfer transaction in relation to the asset, and 30 (b) another person gaining (directly or indirectly) the ability to initiate a transfer transaction in relation to the asset or some quantity of that type of asset. 5A Sections 2 to 4 subject to other enactments Sections 2 to 4 are subject to any enactment whenever passed or made. 6 Ancillary provision 35 (1) The Scottish Ministers may...