Australia Appoints Charlton to Lead Digital Economy and Crypto Reform

Australia has appointed Andrew Charlton as Assistant Minister for Science, Technology, and the Digital Economy, alongside his role as Cabinet Secretary, marking a strategic push to modernize the tech sector and regulate digital assets.

Prime Minister Anthony Albanese emphasized Charlton’s economic and international expertise, stating he is “exceptionally qualified” to support Minister Tim Ayres on advancing innovation, AI, and digital transformation. The move reflects the government’s commitment to strengthening digital infrastructure and embracing emerging technologies.

Charlton, formerly Special Envoy for Cyber Security and Digital Resilience, has played a key role in shaping Australia’s crypto policy. In March, he co-authored a joint statement outlining plans for a licensing framework for digital asset platforms. The upcoming reforms align with global standards such as the EU’s MiCA and Singapore’s Payment Services Act, aiming to boost industry confidence while safeguarding consumers.

Under the proposed legislation, major crypto exchanges will be required to obtain an Australian Financial Services Licence, while smaller or non-financial platforms may be exempt. The reforms also address “debanking” practices, where banks cut ties with crypto firms—an issue now under consultation with major financial institutions.

Caroline Bowler, CEO of BTC Markets, welcomed the appointment, saying it shows “a clear commitment to collaboration and effective policy delivery.” Sydney-based MHC Digital Group also praised Charlton’s proactive stance on blockchain regulation, noting it helps Australia stay competitive in the global crypto landscape.

In parallel, Australia’s financial watchdog AUSTRAC has placed crypto ATM operators under increased scrutiny, citing money laundering and scam-related concerns. A draft of the crypto legislation is expected later this year, with updated guidance from the Australian Securities and Investments Commission (ASIC) also underway.