As subscribers to this newsletter are aware, Congress has been engaged in debates over market structure legislation for several months, but discussions around crypto policy encompass a broader range of topics, including taxes, regulations for decentralized finance, the upcoming midterm election, and state-level approaches. CoinDesk's Consensus Miami conference will delve into each of these issues in detail. This newsletter, State of Crypto, explores the intersection of cryptocurrency and government.
To receive future editions, click here to sign up. Discussions in Miami will focus on significant policy changes related to digital assets.
Last year, U.S. President Donald Trump signed the first substantial crypto-specific legislation, and regulators have since shifted their approach to enforcement.
Congress has been debating the finer points of issues like stablecoin yield treatment. In essence, the crypto industry has gained recognition. This was also true last year, when the industry celebrated its electoral wins in 2024 as bitcoin's price surged and legislation seemed imminent.
Although crypto prices have been stagnant this year due to broader economic stresses, and time is running out for Congress to pass market structure legislation, regulators have begun proposing rules for stablecoin companies based on the GENIUS Act, and lawmakers are considering reforms to U.S. crypto tax policy. The industry is still seeking tax reform, including a de minimis exemption for crypto transactions, and is hoping the market structure bill will become law without overly burdening the industry. The upcoming November election, which will determine the next Congress, is also a key focus.
These topics will be explored in depth at Consensus Miami, which will feature leading lawmakers, regulators, and Congressional staffers over the course of three days. Participants will include Senators Kirsten Gillibrand and Ashley Moody, regulators like CFTC Chairman Mike Selig, and the White House's Patrick Witt. Congressman Steven Horsford, who recently introduced a new version of the Parity Act, will participate in a discussion about the bill.
A meetup for those interested in discussing the election or policy landscape will also be held. The Policy & Regulation Summit will be a dedicated day and stage for exploring key policy and regulatory issues, including whether decentralized finance can comply with anti-money laundering rules, tax implications in the new 1099-DA era, and the Clarity Act.
Sessions will focus on the 2026 midterm election, including the crypto industry's engagement and expectations for the new Congress. The summit will feature experts such as SEC Crypto Task Force chief Taylor Lindman, former IRS officials Seth Wilks and Raj Mukherjee, and the National Futures Association's Lucy Hynes. The Policy Summit will conclude with a debate on prediction markets, exploring whether they are a form of gambling or a novel financial instrument, and who should regulate them.
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