Australia appoints new Assistant Minister of Technology to promote cryptocurrency regulation

According to Decrypt, the Australian government has appointed Andrew Charlton as Assistant Minister for Technology and Digital Economy, and also serves as Cabinet Secretary, to promote digital asset regulation and the modernization of the technology industry. Prime Minister Anthony Albanese stated that Charlton's economic qualifications and international experience fully qualify him for this dual role. This appointment comes at a time when the Australian government is strengthening its regulation of digital assets. According to the new regulations, major encryption platforms are required to obtain an Australian financial services license, while small businesses and non-financial service institutions are exempt. The reform plan aims to align with international standards such as the EU MiCA and Singapore's Payment Services Act. Caroline Bowle, CEO of BTC Markets, 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 developing the licensing system for encryption platforms. In addition, the government is currently in negotiations on the issue of "de banking" of banks and plans to introduce relevant legislative drafts within the year. The Australian Securities and Investments Commission will also update its guidelines for digital assets.