Australia has appointed Andrew Charlton as aide to Science, Technology and Digital Economy as the government seeks to solidify its agenda on digital assets regulation and modernisation of its technological sector.
Prime Minister Anthony Albanese announced his appointment on Monday, saying that Charlton’s financial qualifications and international experience make him “exceptionally qualified” for the dual role.
“The role of his policy is to work with (the Minister of Science, Technology, Minister of Digital Economy), especially. Tim Ayers, in the industry field of new technology, is all about the impact it has on the nature of work and the changing nature of the economy.” I said A reporter in Canberra.
Caroline Bowler, CEO of Crypto Exchange BTC Markets, called the appointment a “clear commitment to collaboration and effective policy delivery.”
“Charlton understands that the digital economy is being established and is expanding rapidly,” Bowler said. Decryption In a statement. “We are confident that he will support a resilient, future-ready digital infrastructure.”
Charlton’s appointment continues to a Wideer push The digital asset industry is regulated by the newly re-elected Australian government.
In March, Charlton co-released as an envoy for cybersecurity and digital resilience Joint Statement Assistant Treasurer Stephen Jones outlines the next steps towards the crypto platform licensing regime.
The reform aims to align Australia with global standards such as the EU’s MICA and Singapore’s Payment Services Act.
(Charlton’s specific support for digital assets and recognition of the potential for transforming blockchain technology, along with the need to quickly and properly regulate, should help Australia meet the rapidly evolving global regulatory landscape, the Sydney-based digital asset platform MHC Digital Group. Decryption In a statement.
Under the proposed rules, major crypto companies will need to obtain an Australian financial services license. Small and medium-sized businesses or businesses that do not provide financial services are exempted.
The Ministry of Finance also flagged concerns over banking that would limit services to crypto companies.
Authorities have begun consultations with major banks to address the issue and hope that the new rules will provide clearer and risk management across the sector.
A bill is scheduled for later this year. The Australian Securities and Investment Commission will update its digital asset guidance.
Edited by Sebastian Sinclair
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