The Cryptographic of Australia has expressiveness after the recently re-elected government called the Pro-Crypto Andrew Charlton as an assistant minister of digital economy, artificial intelligence and other emerging technologies.
Prime Minister Anthony Albanese told journalists in Canberra Duration a press conference on May 12 that Charlton would be the new Assistant Minister of Science, Technology and the Digital Economy, working with Tim Ayres, the Minister of Industry and Innovation.
Ayres and Charlton will administer policies and advances for the promotion of programs in emerging technologies, science, technology, innovation and digital economy, according to Albanese.
Charlton has shown strong support for the industry in the past. Duration A speech for Parliament last November, pressed for a balanced regulatory framework that promoted industry growth.
Cryptocurrency is shaping the future of finance. Governments must support a balanced framework that fosters growth while guaranteeing security and trust. We will adopt the opportunities of a digital economy! #Cryptocurrency #Innovation @Decaustralia pic.twitter.com/av8l2da72g
– Andrew Charlton (@Charlton_AB) November 27, 2024
In statements to Cointegraph, Jason Titman, CEO of Australian Crypto Exchange Swyftx, said that Charlton’s appointment is “unequivocally good news for cryptography in Australia”, and expects the “Blockchain industry to be encouraging.”
“Andrew has a deep understanding of blockchain, along with a genuine belief in its potential to support the Australian economy,” said Titman.
Together with the new assistant treasurer, Daniel Mulino, Titman says he hopes Charlton “tracks the legislation on digital assets”, because the industry has been waiting “six or seven years for legislative clarity.”
The Australian cryptographic industry continues to grow
Vakul Talwar, head of the Australian arm of Crypto Exchange Crypto.com, said in a statement sent to Cointelegraph that Charlton’s appointment is a sign of the growing importance of the digital economy.
From the previous elections in 2022, Talwar says that the “industry has grown significantly” and is important in the current term of Parliament “to ensure that as the digital economy continues to merger towards traditional finances, the appropriate” “” “” “” “” “” “” “” “” appropriate regulation “” “” “” “” “” “” “” “” “”
About 31% of Australian adults possess or have cryptography, which is approximately 6.2 million people, April 4 data from Crypto Exchange Independent Reserve show, compared to 28% last year.
Edward Carroll, head of global markets and corporate finance on the Australian Cryptographic Platform MHC Digital Group, said that Charlton has long recognized the importance of fantasting a constructive and innovative financial ecosystem.
“Your specific support for digital assets and recognition of the Blockchain technology transformative potential, along with the need to regulate it quickly and appropriately, should help Australia maintain the rhythm of the global regulation in rapid evolution.”
At the same time, Damian Kassabgi, CEO of the Industry Defense Group, Tech Council of Australia, said in a May 12 statement that the addition of “digital economy” to the position of the ministry is a “strong sign of the government’s commitment to this critical area of the future for jobs.” “
Related: The industry requires urgent reforms of cryptographic law after the Australian elections
The re-elected Labor-Durft Labor Party proposes a new cryptographic framework on March 21, regulating exchanges under existing financial services and has promised to address the debate.
Meanwhile, in August 2022, it also initiated a series of industry consultations to write a cryptographic regulatory framework.
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