As this newsletter's readers may be aware, the US Congress has been debating market structure legislation over the past few months. However, crypto policy discussions encompass a wide range of topics beyond this single issue, including taxes, decentralized finance regulations, the midterm election, and state-level developments. CoinDesk's upcoming Consensus Miami conference will delve into each of these topics in depth. The crypto industry has become increasingly significant in the policy landscape, with last year seeing the signing of the first substantial crypto-specific legislation by US President Donald Trump.
Regulators have also shifted their approach to enforcement actions, and Congress has been debating the finer details of issues like stablecoin yield treatment. Despite some setbacks this year, including stagnant crypto prices and time running out for Congress to pass market structure legislation, the industry remains optimistic. Regulators have begun proposing rules for stablecoin companies based on the GENIUS Act, lawmakers are considering reforms to US crypto tax policy, and the industry appears to have solidified its position. The industry is still pushing for 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 midterm election in November will also be crucial, as the US will be selecting the next Congress. At Consensus Miami, attendees will hear from prominent lawmakers, regulators, and industry experts, 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 meetup for those interested in discussing the election and the policy landscape. The Policy & Regulation Summit will be a key part of the conference, with an entire day dedicated to exploring key policy and regulatory issues in-depth. This will include sessions on decentralized finance compliance with anti-money laundering rules, taxes in the new 1099-DA era, and the Clarity Act.
The summit will also feature a series of sessions focused on the 2026 midterm election, including the crypto industry's engagement with the election and what to expect next year when the new Congress takes over. The conference will conclude with a debate on prediction markets, one of the most pressing topics in the country, and whether they should be considered a novel financial instrument or simply a form of gambling.