The Crypto Execs Cheer While Australia nominated the Pro-Crypto Assistant Minister
The Australian crypto industry has expressed positivity after a recent reelated government named pro-crypto politician Andrew Charlton as assistant minister for digital economy, artificial intelligence and other emerging technologies.
Prime Minister Anthony Albanese said Canberra broadcasters during a May 12 conference Charlton will be the new assistant minister for science, technology and the digital economyWorking with Tim Ayres, the minister for industry and innovation.
Ayres and Charlton will oversee policies and programs that promote advances in emerging technologies, science, technology, change and digital economy, according to Albanese.
Charlton has shown Strong support for the industry in the past. During a speech at Parliament in November, he pushed a balanced frame of regulation that encouraged the growth of the industry.
Cryptocurrency shapes the future of finance. Governments should support a balanced framework that encourages growth while ensuring security and trust. Let’s embrace the chances of a digital economy! #CryptoCurrency #Innovation @Decaustralia pic.twitter.com/av8l2da72g
– Andrew Charlton (@charlton_ab) November 27, 2024
Talking to Cointelegraph, Jason Titman, CEO of Australia’s crypto exchange Swyftx, Charlton’s appointment said “unequal good news for crypto in Australia,” and he hopes that the “blockchain industry is making fun.”
“Andrew has a deep understanding of the blockchain, in conjunction with a true belief in potential to support the Australian economy,” Titman said.
In conjunction with the new assistant administrator, Daniel Mulino, Titman said he hopes Charlton is “fast -tracking the law around digital ownership,” because the industry is awaiting “six or seven years for legislation.”
Australian crypto industry continues to grow
Vakul Talwar, head of Australia’s arm of Crypto Exchange Crypto.com, said in a statement sent to Cointelegraph that Charlton’s appointment was a sign of the growing importance of the digital economy.
Since the previous election in 2022, Talwar said the “industry has grown significantly,” and it is important in the current Parliament term that “ensure that while the digital economy continues to combine traditional finances, appropriate regulations are in place.”
Nearly 31% of adults in Australia hold or owner crypto, which is about 6.2 million people, April 4 data from Crypto Exchange Independent Reserve Shut upup to 28% last year.
Edward Carroll, head of the Global Markets and corporate finance on the Australian crypto platform MHC Digital Group, said Charlton has long recognized the importance of the care of a constructive and innovative financial ecosystem.
“His specific support for digital possession and recognition of the transformation of blockchain technology, in conjunction with the need to adjust it quickly and appropriately, should help Australia continue the rapid emerging global regulatory regulation,” Carroll said.
At the same time, Damian Kassabgi, CEO of the Industry Advocacy Group Tech Council of Australia, Says In a May 12 statement that the addition of the “digital economy” to the ministry’s position was a “powerful sign of the government’s commitment to this critical area of growth for jobs.”
Related: The industry calls for urgent crypto law reforms after the Australian election
The Reelated Center-Left Labor Party Proposed a new Crypto framework on March 21.
Meanwhile, in August 2022, it too started a series of industry consultations To dresses a crypto Outline of regulation.
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