Digital Assets (Scotland) Bill: final business and regulatory impact assessment

Introduction

This Business and Regulatory Impact Assessment considers costs, benefits and risks for the Digital Assets (Scotland) Bill. The Bill will bring clarification to Scots private law by confirming the status of digital assets as objects of property. This will help support a business-friendly environment and economic growth, including across the FinTech sector, specialist digital asset trading businesses and asset management. Digital assets are often recorded on and transferred through distributed ledger technology, such as a blockchain and it has been reported that the estimated value of the blockchain technology market in Scotland is likely to reach £4.48 billion by 2030^[1].