Digital Assets in Scots Private Law: Expert Reference Group - terms of reference

Key roles

• provide legal clarification on Scotland’s path to accommodate digital assets within Scots private law which includes the status and treatment of crypto assets and related technologies
• in so doing, take into account wider UK initiatives which may impact Scotland and the Scottish FinTech sector
• provide advice to the Scottish Government on whether there is a need for legislation to accommodate digital assets in Scots private law and to communicate with the Scottish Government on consequential work

Guiding principles

The ERG’s remit will be to consider the legal issues surrounding FinTech and identify options to ensure Scotland is not disadvantaged in this area and Scots private law is equipped to accommodate digital assets. 

Working practices

Meetings

• the ERG will be chaired by Right Hon Lord Patrick Hodge, of The Supreme Court of the United Kingdom
• the ERG will be a short-life working group to take forward the options and actions identified

Membership

ERG membership will include representation from the Scottish, English and Welsh legal system, as well as input from other relevant stakeholders such as academia, industry and regulation.

Representatives of relevant UK authorities may be invited to attend and contribute to the ERG’s advisory function.

Individual members will serve in a personal capacity, but will draw on their experience as members of companies, departments, industry bodies etc. Members will be entitled to discuss possible changes of policy or practice without implying the approval of their organisations.

Membership is unremunerated. New members will be appointed in consultation with the Chair.

Contact

digitalassets@gov.scot