Australia Names New Assistant Minister for Tech Portfolio Amid Crypto Regulation Push
Andrew Charlton has been appointed as Assistant Minister for Science, Technology, and the Digital Economy in Australia, alongside his role as Cabinet Secretary. Prime Minister Anthony Albanese emphasized Charlton's economic expertise and international experience as key qualifications. Charlton will collaborate with Minister Tim Ayres on technology and AI's impact on the economy. The appointment signals the government's commitment to regulating digital assets and modernizing the tech sector. Charlton previously co-released a statement outlining steps toward a licensing regime for crypto platforms, aiming to align with global standards like the EU’s MiCA. Major crypto firms will require an Australian Financial Services Licence, while smaller firms may be exempt. Consultations with banks are underway to address debanking concerns, with draft legislation expected later this year. The Australian Securities and Investments Commission will also update its digital asset guidance.
