TechFlow news, May 13 — According to Decrypt, Australian Prime Minister Anthony Albanese announced the appointment of Andrew Charlton as Assistant Minister for Tech, Innovation, and the Digital Economy, also serving as Cabinet Secretary. As former Cyber Security and Digital Resilience Ambassador, Charlton will work alongside Industry Minister Tim Ayres to focus on emerging technologies, artificial intelligence, and their economic impacts.
The appointment marks a significant step in the Australian government’s efforts to regulate digital assets. Based on a joint statement released in March, Australia plans to establish a regulatory framework aligned with the European Union's Markets in Crypto-Assets (MiCA) regulation and Singapore's Payment Services Act. The new rules will require major cryptocurrency platforms to obtain an Australian Financial Services Licence, while small-scale businesses and non-financial service providers may be exempted. A draft of the relevant legislation is expected to be released later this year.
