As this newsletter's readers are aware, the US Congress has been debating market structure legislation for the past few months. However, discussions around crypto policy encompass a wide range of issues, including taxes, decentralized finance regulations, the upcoming midterm election, and state-specific approaches.
The Consensus Miami conference, scheduled for next month, will delve into each of these topics in depth. This newsletter examines the intersection of cryptocurrency and government. To receive future editions, click here to sign up. Conversations in Miami This newsletter has previously highlighted the significance of policy changes in the digital asset space.
Last year, US President Donald Trump signed the first substantial crypto-specific legislation, marking a notable shift. Regulators have also altered their approach to enforcement actions. The recent debates in Congress have focused on the finer details of issues like stablecoin yield treatment, rather than the broader aspects of market structure bills.
In essence, cryptocurrency has become a mainstream topic. Although this was also true last year, the crypto industry's momentum has slowed slightly this year due to stagnant prices and broader economic pressures.
Despite this, regulators have begun proposing rules for stablecoin companies based on the GENIUS Act, and lawmakers are considering reforms to US crypto tax policies. The industry has established itself to the point where it can no longer be dismissed. The next steps for the industry include seeking tax reforms, such as a de minimis exemption for crypto transactions, and hoping that the market structure bill will become law without overly burdening the industry. The upcoming November elections, which will determine the next Congress, are also a key focus.
These topics will be explored in more depth at Consensus Miami, our annual event that brings together industry leaders. The conference will feature leading lawmakers, including Senators Kirsten Gillibrand and Ashley Moody, regulators like CFTC Chairman Mike Selig, and the White House's crypto point man, Patrick Witt.
Congressional staffers will also be in attendance throughout the three-day conference. Congressman Steven Horsford (D-Nev.), who recently introduced a new version of the Parity Act to address crypto taxation, will participate in a discussion about the bill.
A meetup for those interested in discussing the election or the policy landscape in general will also be held. We are also bringing back 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. These include whether decentralized finance can comply with anti-money laundering rules, how to navigate taxes in the new 1099-DA era, and how states are approaching the crypto sector.
A series of sessions will focus on the 2026 midterm election, including the crypto industry's engagement with the election and what to expect when the new Congress takes over next year. The conference will feature insights 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. The Policy Summit and Consensus will conclude with a debate on one of the most significant topics in the country: prediction markets. Are they simply a form of gambling, or do they represent a novel financial instrument?
And who should regulate these products? These questions may eventually be addressed by the US Supreme Court, but we will preview the arguments for you on May 7.
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.