As subscribers to this newsletter are aware, Congress has been debating market structure legislation over the past few months, but discussions on crypto policy encompass a wide range of issues, including taxes, regulations for decentralized finance, the upcoming midterm elections, and more. CoinDesk's Consensus Miami conference will delve into each of these topics in detail.
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Discussions in Miami As noted previously, significant policy changes surrounding digital assets have become increasingly important. Last year, U.S. 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 points of issues such as the treatment of stablecoin yield, rather than the broader aspects of market structure bills.
In essence, cryptocurrency has become a recognized entity. This was also true last year, when the crypto industry celebrated its electoral victories in 2024, with the price of bitcoin soaring to over $120,000 and legislation appearing imminent.
However, the situation has become less favorable this year, with crypto prices remaining stagnant amid broader economic stresses and time running out for Congress to pass market structure legislation in its current form. Despite this, regulators have begun proposing rules for stablecoin companies based on the GENIUS Act, lawmakers are considering reforms to U.S.
crypto tax policy, and the industry has solidified its position to the point where it can no longer be dismissed. So, what's next?
The industry is still 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. It is also looking ahead to the upcoming U.S. elections, when the next Congress will be chosen.
We will explore these topics further at Consensus Miami, our annual event that brings together key figures from the industry. 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 Patrick Witt, and Congressional staffers over the course of three days. Congressman Steven Horsford, who recently introduced a new version of the Parity Act to address crypto taxation, will participate in a discussion about the bill.
We will also host a meetup for those interested in discussing the election or the policy landscape in general. We are also reviving the Policy & Regulation Summit, a dedicated day and stage for exploring key policy and regulatory issues in-depth. The policy summit is designed to address some of the most pressing questions facing lawmakers, regulators, compliance officers, and industry builders, including how decentralized finance can comply with anti-money laundering rules, how to handle taxes in the new 1099-DA era, and how states are approaching the sector.
We will have a series of sessions focused on the 2026 midterm elections, including how the crypto industry is engaging with the election and what to expect when the new Congress takes office next year. Throughout the event, we will hear from 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, among many others. We will conclude the Policy Summit and Consensus with a debate on one of the most significant topics in the country: prediction markets. Are they merely a form of gambling, or a novel financial instrument?
And who should regulate these products? These questions are likely to be addressed by the U.S. Supreme Court, but we will preview the arguments for you on May 7.
Join us (use the discount code in the link) and say hello. This week Tuesday If you have thoughts or questions about what to discuss next week or any other feedback, feel free to email me at nik@coindesk.com or find me on Bluesky @nikhileshde.bsky.social. You can also join the group conversation on Telegram.
See you all next week.