On May 13, the Australia government appointed Andrew Charlton as Assistant Minister for Technology and Digital Economy and concurrently served as Cabinet Secretary to promote digital asset supervision and modernization of the technology industry. Prime Minister Anthony Albanese said Charlton's economic credentials and international experience made him fully qualified for this dual role. The appointment comes at a time when the Australia government is strengthening the regulation of digital assets. Under the new regulations, major encryption platforms need to obtain an Australia financial services license, while small businesses and non-financial services institutions can be exempted. The reform plan aims to align with international standards such as the EU MiCA and Singapore's Payment Services Act. Caroline Bowle, CEO of BTC Markets, believes that the appointment reflects the government's emphasis on the development of the digital economy. As a former cybersecurity envoy, Charlton was involved in developing a cryptographic platform licensing system. In addition, the government is conducting consultations on the issue of "de-banking" of banks and plans to introduce relevant draft legislation within the year. The Australia Securities and Investments Commission will also update its digital asset guidance.