As this newsletter's readers may know, the US Congress has been engaged in intense debates over market structure legislation in recent months. However, crypto policy discussions encompass a broad range of issues beyond this, including taxation, decentralized finance regulations, the upcoming midterm elections, and state-level initiatives.
CoinDesk's Consensus Miami conference, scheduled for next month, will delve into each of these topics in detail. This newsletter, State of Crypto, explores the intersection of cryptocurrency and government, and you can sign up for future editions here. The conversations in Miami will revolve around significant policy changes in the digital asset space.
Last year, former 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 points of issues like stablecoin yield treatment. In essence, the crypto industry has gained recognition.
Although the industry experienced a surge in 2024, with bitcoin's price soaring to over $120,000 and legislative progress seeming imminent, the current year has seen stagnant crypto prices and time running out for Congress to pass market structure legislation. Nevertheless, regulators have started proposing rules for stablecoin companies based on the GENIUS Act, lawmakers are considering reforms to US crypto tax policy, and the industry has established itself as a permanent fixture. The industry is still seeking tax reform, hoping for a de minimis exemption for crypto transactions, and awaiting the market structure bill to become law without overly burdening the industry.
The Consensus Miami conference will bring together leading lawmakers, regulators, and industry experts to discuss these issues. The event will feature speakers like Senators Kirsten Gillibrand and Ashley Moody, regulators such as CFTC Chairman Mike Selig, and the White House's Patrick Witt. Congressman Steven Horsford will participate in a discussion about the Parity Act, and there will be a meetup for those interested in the election and policy landscape.
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 1099-DA era, and the Clarity Act. The summit will also focus on the 2026 midterm election, including the crypto industry's engagement and expectations for the new Congress. The event will conclude with a debate on prediction markets, featuring experts like SEC Crypto Task Force chief Taylor Lindman and former IRS officials Seth Wilks and Raj Mukherjee.