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Seòmar agus comataidhean

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 16 December 2025
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Displaying 924 contributions

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Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

Murdo Fraser

I want to press you on that a little.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

Murdo Fraser

Okay. Can I ask you to expand on that? You say that you want “something” to protect them. What more do you have in mind?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

Murdo Fraser

Indeed. Otherwise, we rely on the court to decide whether wilful stupidity counts as good faith or not.

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

Murdo Fraser

When you say “legislative guidance”, what do you have in mind?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

Murdo Fraser

Good morning. I want to touch on a slightly different topic: the issue of trading in digital assets, including, in particular, the protections in the bill for acquirers in good faith. I would be interested in hearing any thoughts that you have on, first, the principle that acquirers in good faith get a protection that, clearly, acts to the disadvantage of the original owner of the asset and, secondly, whether the definition of “good faith” in the bill is sufficient. Who would like to start?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

Murdo Fraser

The bill covers good faith, but there is no mention of due diligence. Is the implication, then, that good faith means that the buyer has to do due diligence?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 10 December 2025

Murdo Fraser

This will be my final question on the topic. Is the bill fine in this respect, or do you think that it needs to be improved?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 26 November 2025

Murdo Fraser

The bill provides that the purchase must be “for value”, but the expert reference group had suggested the term “onerous consideration”. Do you have any view as to why the bill uses different language?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 26 November 2025

Murdo Fraser

Thank you. You have explained the rationale for that choice well, but perhaps I can just tease out some of the detail a little more. What is your understanding of the requirement, in section 4(2) of the bill, for “good faith”? How would that be demonstrated in practice?

Economy and Fair Work Committee [Draft]

Digital Assets (Scotland) Bill: Stage 1

Meeting date: 26 November 2025

Murdo Fraser

Would there be any requirement on the purchaser in that scenario to have done any form of due diligence, or would it simply be a negative?