As regular readers of this newsletter are aware, Congress has been debating market structure legislation for months, but the scope of crypto policy discussions extends far beyond this single issue, encompassing topics such as taxes, decentralized finance regulations, the upcoming midterm election, and more. CoinDesk's Consensus Miami conference will delve into each of these issues in detail. The intersection of cryptocurrency and government is becoming increasingly significant, with last year seeing the first major crypto-specific legislation signed into law by U.S. President Donald Trump.
Regulators have also shifted their approach to enforcement actions, and Congress has been debating the finer points of issues like stablecoin yield treatment. The crypto industry has made substantial progress, with electoral wins in 2024 and a soaring bitcoin price.
Although the industry has faced challenges this year, including stagnant crypto prices and time running out for Congress to pass market structure legislation, regulators have begun proposing rules for stablecoin companies, and lawmakers are considering reforms to U.S. crypto tax policy.
The industry is seeking tax reform, including a de minimis exemption for crypto transactions, and is looking ahead to the November election, which will determine the next Congress. Consensus Miami will bring together leading lawmakers, regulators, and industry experts to discuss these issues, including Senators Kirsten Gillibrand and Ashley Moody, CFTC Chairman Mike Selig, and White House point man on crypto Patrick Witt. The conference will also feature a Policy & Regulation Summit, exploring key policy and regulatory issues, such as decentralized finance compliance with anti-money laundering rules, taxes in the new 1099-DA era, and the Clarity Act.
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 conclude with a debate on prediction markets, discussing whether they are a form of gambling or a novel financial instrument, and who should regulate them.