Australia Appoints Pro-Crypto MP Andrew Charlton as Assistant Minister for the Digital Economy

Andrew Charlton has been appointed Assistant Minister for the Digital Economy, AI, and Emerging Technologies, a move celebrated by the local crypto industry for his strong blockchain support.Charlton has long pushed for balanced crypto regulation, co-authoring a March proposal for a licensing regime aligned with global standards like MiCA and Singapore’s Payment Services Act.The upcoming framework would require major crypto platforms to hold an Australian Financial Services Licence.Prime Minister Anthony Albanese has appointed Andrew Charlton as assistant minister for the digital economy, artificial intelligence, and emerging technologies, placing a vocal blockchain supporter at the heart of the country’s tech policy agenda.Charlton will serve alongside Tim Ayres, minister for industry and innovation, to shape national policies around science, tech, and digital development. The announcement came during a May 12 press conference in Canberra following the government’s reelection.Industry figures welcomed the move, with Swyftx CEO Jason Titman telling CoinTelegraph that the appointment is “unequivocally good news for crypto in Australia”, adding that the local blockchain industry is cheering the decision. Andrew has a deep understanding of blockchain, coupled with a genuine belief in its potential to support the Australian economy. Jason Titman, Swyftx CEO. Related: BIS Study: Crypto Turns Crisis Currency as Cross‐Border Flows Soar to $600BCharlton’s Crypto AdvocacyCharlton previously advocated for clear, balanced regulation in the crypto sector. In a speech to parliament last November, he made it clear that Australia needed a framework that fosters innovation without stifling growth.Cryptocurrency is shaping the future of finance. Governments must support a balanced framework that encourages growth while ensuring security and trust. Let’s embrace the opportunities of a digital economy! #Cryptocurrency #Innovation @DECAustralia pic.twitter.com/av8L2DA72g— Andrew Charlton (@Charlton_AB) November 27, 2024In March, as Special Envoy for Cyber Security and Digital Resilience, he co-released a joint statement with Assistant Treasurer Stephen Jones outlining plans for a crypto platform licensing regime. The upcoming framework aims to align with global benchmarks like the EU’s MiCA rules and Singapore’s Payment Services Act.Under the proposed rules, major players in the crypto sector would be required to hold an Australian Financial Services Licence. Smaller firms not offering financial products would remain exempt. The government also acknowledged industry-wide concerns around debanking, launching consultations with major banks to prevent discriminatory access restrictions.Draft legislation is expected later this year, with the Australian Securities and Investments Commission preparing updated guidance on digital asset activity.Related: Bill to Ban US Officials Spruiking Crypto Introduced by US Democratic SenatorsThe post Australia Appoints Pro-Crypto MP Andrew Charlton as Assistant Minister for the Digital Economy appeared first on Crypto News Australia.