As subscribers to this newsletter are aware, the US Congress has been debating market structure legislation over the past few months. However, crypto policy discussions encompass a wide range of issues, including taxes, decentralized finance regulations, the upcoming midterm election, and state-specific approaches. CoinDesk's Consensus Miami conference will delve into each of these topics in depth.
The intersection of cryptocurrency and government is a key focus of this newsletter, State of Crypto. To receive future editions, click here to sign up.
Miami Discussions This newsletter has previously noted the significance of policy changes related to digital assets. Last year, US President Donald Trump signed the first substantial crypto-specific legislation, and regulators have since shifted their approach to enforcement actions. Congress has been debating the finer details of issues like stablecoin yield treatment, rather than the broader aspects of market structure bills. In essence, the crypto industry has established itself as a major player.
Although the industry experienced significant growth last year, with bitcoin's price soaring to over $120,000 and electoral wins in 2024, this year has seen a slowdown in crypto prices amidst broader economic stress. Despite this, regulators have begun proposing rules for stablecoin companies based on the GENIUS Act, and lawmakers are considering reforms to US crypto tax policy.
The industry has solidified its position to the point where it can no longer be dismissed. Looking ahead, the industry is seeking tax reform, including a de minimis exemption for crypto transactions, and hopes that 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, our annual event that brings together industry leaders and experts. The conference will feature leading lawmakers, such as Senators Kirsten Gillibrand and Ashley Moody, regulators like CFTC Chairman Mike Selig, and the White House's point man on crypto, Patrick Witt. Congressional staffers will also participate in the three-day conference.
Congressman Steven Horsford (D-Nev.) will discuss the newly introduced Parity Act, which aims to address crypto taxation. A meetup for those interested in discussing the election and policy landscape will also be held.
The Policy & Regulation Summit will be dedicated to exploring key policy and regulatory issues in-depth, including whether decentralized finance can comply with anti-money laundering rules, tax implications in the 1099-DA era, and the Clarity Act. A series of sessions will focus on the 2026 midterm election, including the crypto industry's engagement with the election and expectations for the new Congress. The summit will feature experts like SEC Crypto Task Force chief Taylor Lindman, former IRS officials Seth Wilks and Raj Mukherjee, and the National Futures Association's Lucy Hynes, among others.
The Policy Summit will conclude with a debate on prediction markets, a topic that may eventually be addressed by the US Supreme Court. This Week Tuesday If you have thoughts or questions about future topics or any other feedback, please email nik@coindesk.com or find me on Bluesky @nikhileshde.bsky.social.
You can also join the group conversation on Telegram. See you next week.