Australia Crypto Sector Welcomes Pro-Blockchain Minister Andrew Charlton

Australia cryptocurrency industry is optimistic following the appointment of Andrew Charlton as assistant minister for the digital economy, artificial intelligence, and emerging technologies. Charlton, a known advocate for digital assets, was named to the role on May 12 by Prime Minister Anthony Albanese, who confirmed the reshuffled ministry in a press conference held in Canberra. Charlton will work alongside Tim Ayres, the minister for industry and innovation, to drive forward policies on science, technology, and digital innovation. The move comes as part of the reelected Labor government’s broader strategy to align Australia with global advancements in emerging technologies while fostering domestic innovation. The appointment has been hailed by leaders across the crypto sector. Jason Titman, CEO of crypto exchange Swyftx, called it “unequivocally good news for crypto in Australia,” noting that Charlton’s understanding of blockchain technology and his long-standing support could accelerate long-overdue regulatory clarity. Regulatory Framework in Australia Charlton has previously argued for a regulatory environment that supports innovation without stifling growth. In a speech to Parliament last November, he stressed the need for a balanced framework that protects consumers while allowing the blockchain industry to thrive. Industry leaders are hopeful that his new role will give momentum to long-stalled efforts to regulate digital assets. Titman expressed hope that Charlton, along with newly appointed assistant treasurer Daniel Mulino, will “fast track legislation around digital assets,” adding that the industry has been waiting “six or seven years for legislative clarity.” The sentiment was echoed by Vakul Talwar, head of Crypto.com’s Australian division, who said Charlton’s appointment reflects the rising importance of the digital economy in Australia. Talwar emphasized the need for timely regulation, especially as crypto continues to blend into traditional finance sectors. Crypto Adoption and Government Commitment Rising Australia’s crypto ownership is on the rise , with 31% of adults—or around 6.2 million people—having owned digital assets at some point, up from 28% last year, according to data from Independent Reserve. Edward Carroll of MHC Digital Group highlighted Charlton’s understanding of blockchain’s transformative potential and the urgency of crafting clear regulations . Meanwhile, Damian Kassabgi of the Tech Council of Australia said the addition of “digital economy” to Charlton’s title signals strong governmental support for the sector’s role in job creation and economic growth. The Labor government had already proposed a crypto regulation framework in March 2024 and initiated consultations with the industry in 2022. With Charlton at the helm, the sector now hopes these efforts will finally gain traction. The post Australia Crypto Sector Welcomes Pro-Blockchain Minister Andrew Charlton appeared first on TheCoinrise.com .

Source: The Coin Rise