Assistant Minister Role Expanded to Include Digital Economy and Emerging Tech
Australia’s crypto and blockchain industry is celebrating the appointment of Andrew Charlton as the country’s new Assistant Minister for Science, Technology, and the Digital Economy, following the Labor Party’s reelection and cabinet reshuffle.
The announcement was made by Prime Minister Anthony Albanese during a May 12 press conference in Canberra. Charlton will work alongside Minister for Industry and Innovation Tim Ayres, focusing on advancing digital innovation, emerging technologies, and science and economic policy tied to tech development.
Cryptocurrency is shaping the future of finance. Governments must support a balanced framework that encourages growth while ensuring security and trust. Let’s embrace the opportunities of a digital economy! #Cryptocurrency #Innovation @DECAustralia pic.twitter.com/av8L2DA72g
— Andrew Charlton (@Charlton_AB) November 27, 2024
Charlton, a longtime advocate for blockchain, has previously pushed for balanced regulation to foster the growth of Australia’s digital asset sector. In a November 2023 parliamentary address, he emphasized the importance of “regulatory clarity that promotes innovation.”
Industry Leaders Praise Move, Call for Fast-Tracked Legislation
Executives across Australia’s digital asset space have responded positively to Charlton’s appointment, seeing it as a long-awaited opportunity for meaningful crypto legislation.
“This is unequivocally good news for crypto in Australia,” said Jason Titman, CEO of crypto exchange Swyftx, in comments to Cointelegraph.
“Andrew has a deep understanding of blockchain and a genuine belief in its potential to support the Australian economy.”
Titman expressed hope that Charlton, in collaboration with Assistant Treasurer Daniel Mulino, would “fast-track legislation around digital assets,” something the industry has been awaiting for “six or seven years.”
“The blockchain industry is cheering today,” he added.
Crypto’s Role in the Broader Economy Recognized
Other industry figures echoed this optimism. Vakul Talwar, head of Crypto.com Australia, said Charlton’s appointment “underscores the growing importance of the digital economy.”
“The industry has grown significantly since 2022,” Talwar noted.
“It’s essential that we implement appropriate regulations to ensure crypto can integrate responsibly into traditional finance.”
According to April 2025 data from Independent Reserve, about 31% of Australian adults — roughly 6.2 million people — currently own or have owned crypto, up from 28% the year before.
Edward Carroll, head of global markets at MHC Digital Group, said Charlton “recognizes the importance of fostering a constructive and innovative financial ecosystem.”
“His support for digital assets and acknowledgment of blockchain’s transformative potential are encouraging signs that Australia can keep pace with global developments.”
Government Shows Renewed Commitment to Digital Future
Damian Kassabgi, CEO of the Tech Council of Australia, applauded the government’s decision to expand the ministerial title to include the digital economy, calling it “a strong signal of the Government’s commitment to this critical area of future job growth.”
The center-left Labor Party, which won reelection earlier this year, has already proposed a new regulatory framework for digital assets. This includes plans to:
-
Bring crypto exchanges under existing financial services laws
-
Tackle debanking practices
-
Continue the crypto consultation process that began in August 2022
Final Thoughts: Australia Repositions Itself as Blockchain-Friendly Hub
The appointment of Andrew Charlton signals a pro-innovation shift in Australian crypto policy, offering renewed hope that the country can lead in digital asset regulation while attracting investment and talent.
With a high percentage of the population already engaged in crypto, and institutional interest on the rise, the timing may be ideal for Australia to move from regulatory uncertainty to digital leadership — with Charlton helping to shape the roadmap forward.
