PANews reported on May 13 that according to Decrypt, the Australian government appointed Andrew Charlton as Assistant Minister for Science and Digital Economy and concurrently as Cabinet Secretary to advance the process of digital asset regulation and technology industry modernization. Prime Minister Anthony Albanese said that Charlton's economic qualifications and international experience make him fully qualified for this dual role. The appointment comes at a time when the Australian government is strengthening digital asset regulation.
Under the new regulations, major crypto platforms need to obtain an Australian financial services license, while small businesses and non-financial services institutions are exempted. The reform plan aims to connect with international standards such as the EU MiCA and Singapore's Payment Services Act. BTC Markets CEO Caroline Bowle believes that the appointment reflects the government's emphasis on the development of the digital economy. As a former cybersecurity envoy, Charlton was involved in the formulation of a licensing system for crypto platforms. In addition, the government is negotiating on the issue of "de-banking" of banks and plans to introduce relevant draft legislation this year. The Australian Securities and Investments Commission will also update its digital asset guidelines.
