Readers of this newsletter are likely aware that Congress has been debating market structure legislation for the past few months. However, crypto policy discussions encompass a wide range of issues beyond this, including taxes, decentralized finance regulations, the upcoming midterm election, and more. CoinDesk's Consensus Miami conference will delve into each of these topics in depth next month. The intersection of cryptocurrency and government is a key focus of this newsletter, State of Crypto.
To stay updated on future editions, click here to sign up. Conversations in Miami will center around significant policy changes in the digital asset space.
Last year, U.S. President Donald Trump signed the first substantial crypto-specific legislation, marking a shift in regulators' approach to enforcement actions.
Congress has been debating the finer details of issues like stablecoin yield treatment. In essence, the crypto industry has established itself as a major player. 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.
Lawmakers are also considering reforms to U.S. crypto tax policy, indicating the industry's growing influence.
The industry is still pushing for tax reform, including a de minimis exemption for crypto transactions, and hopes the market structure bill will become law without overly burdening the industry. As the U.S. prepares to elect a new Congress in November, the crypto industry is looking ahead to the future. These topics will be explored in depth at Consensus Miami, where leading lawmakers, regulators, and Congressional staffers will gather for a three-day conference.
Attendees will include Senators Kirsten Gillibrand and Ashley Moody, CFTC Chairman Mike Selig, and Patrick Witt, the White House point man on crypto. Congressman Steven Horsford, who recently introduced a new version of the Parity Act, will participate in a discussion about the bill.
The Policy & Regulation Summit will dedicate an entire day to exploring key policy and regulatory issues, including decentralized finance compliance with anti-money laundering rules, taxes in the new 1099-DA era, and the Clarity Act. The summit will also focus on the 2026 midterm election, including the crypto industry's engagement with the election and expectations for the new Congress. The event will feature sessions with individuals deeply involved in the policymaking process, 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, a topic likely to be addressed by the U.S.
Supreme Court. The debate will explore whether prediction markets are a form of gambling or a novel financial instrument, and who should regulate these products. For feedback or suggestions on future topics, email nik@coindesk.com or join the conversation on Telegram.