Digital assets in Scots private law: consultation
Overview
It is important that Scotland’s legal system keeps pace with developments across the digital and tech landscape, to help support economic growth and to allow Scotland to remain attractive for investment. The Scottish Government appointed an Expert Reference Group to provide legal clarification on Scotland’s path to accommodating digital assets within Scots private law, including the status and treatment of crypto-assets and related technologies.
The Group reported to Scottish Ministers and recommended that legislation clarify the kinds of digital asset that can be objects of property in Scots private law and suggested key features of how this would operate in property law. These recommendations have informed this consultation and we want to hear your views on the proposed reforms.
Read the consultation paper. The consultation paper contains full background information for this consultation. You may find it useful to read or refer to while responding.
Useful information about responding to this consultation
As you complete your response, each page will provide the option to 'Save and come back later' at the bottom. This means you can save your progress and return to the consultation at any time before it closes. If you don't use this feature and leave the consultation midway through, your response will be lost.
Once you have submitted your response, you can enter your email address to get a pdf copy of your answers sent to you.
On the 'About You' page at the end of this consultation, organisations will have the opportunity to tell us more about their work and/or how their response was informed.
After the consultation has closed there will be a few months delay before any responses are published. This is because we must check any responses to be published abide by our Terms of Use.
A analysis report will usually be published some months after the consultation has closed. This report will summarise the findings based on all responses submitted. It will be published on the Scottish Government website and you may be notified about it if you choose to share your email address with us. You can also join our consulation mailing list where we regularly list newly published analysis reports (as well as new consultations).
Why your views matter
Digital assets are being used for a wide range of purposes, from payments and investments to innovative financial products and services, by both businesses and individuals. As these assets become more integrated into our financial markets, establishing legal clarity for those choosing to engage with digital assets is increasingly important. With ongoing technological advancements and commercial innovations, the landscape of digital assets is set to expand, presenting new opportunities and challenges.
We want your help to test our proposals for change and to help shape any possible legislative reform.
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