Scotland’s Digital Assets Bill: New Law for New Assets
Published byAngus MacLeod
Scotland is taking a bold step into the digital future with the introduction of the Digital Assets (Scotland) Bill.
This landmark legislation provides long-awaited legal clarity on the status under Scots law of digital assets—such as cryptocurrencies, non-fungible tokens (NFTs), and other blockchain-based instruments.
The Bill supports the Scottish Government’s ambition for Scotland to become a global FinTech hub. Over 260 FinTech firms already contribute £14 billion to the Scottish economy, supporting more than 11,300 people in employment, and the digital economy is key to future growth.
Why this matters
Until now, digital assets existed in a legal grey area, creating uncertainty for investors, entrepreneurs, and legal professionals. The Bill changes that by confirming that certain digital assets can be treated as property. This means they can be owned, transferred, and protected like physical items. For individuals, this offers peace of mind. For businesses and investors, it creates a more secure and predictable environment for innovation and growth. It reduces risk, enhances investor confidence, and opens the door to new commercial models in digital finance, asset management, and technology.
Key Benefits
The new law will give the following benefits.
• Legal Certainty: Digital assets will now be treated as property under Scots law, providing enforceable rights in cases of insolvency, or contractual disputes.
• Confidence: Companies can structure transactions involving digital assets with greater reassurance, knowing that ownership and transfer mechanisms are legally recognised.
• Sector Growth: The legislation strengthens Scotland’s appeal to digital entrepreneurs and institutional investors.
• Supporting Innovation: By aligning Scots law with emerging technologies, the Bill facilitates the development of new products and services in blockchain, tokenisation, and digital finance.
What should you do?
• Audit your digital assets. Take stock of what you own digitally. Review your exposure to digital assets—whether held directly, used day-to-day, or embedded in investment portfolios. Ensure assets are documented and secure.
• Align your strategy to the new legal standards. Consider how legal recognition of digital property could impact your product offerings, investment approach, or risk management.
The Digital Assets (Scotland) Bill is a key step in modernising Scotland’s legal infrastructure for the digital economy. For business leaders, it offers a clearer path to innovation, investment, and competitive advantage in a rapidly evolving market. For individuals, it means greater confidence if dipping your toe into the world of digital assets.
Final thought: stay informed to make the most of this opportunity
The Bill has just been introduced to the Scottish Parliament. Follow updates via the Parliament’s website and consider submitting your views if you’re affected.
We’ll be keeping an eye on major developments too, so watch this space.
The information contained in this newsletter is for general guidance only and represents our understanding of relevant law and practice as at October 2025. Wright, Johnston & Mackenzie LLP cannot be held responsible for any action taken or not taken in reliance upon the contents. Specific advice should be taken on any individual matter. Transmissions to or from our email system and calls to or from our offices may be monitored and/or recorded for regulatory purposes. Authorised and regulated by the Financial Conduct Authority. Registered office: 319 St Vincent Street, Glasgow, G2 5RZ. A limited liability partnership registered in Scotland, number SO 300336.
