As this newsletter's readers are aware, the US Congress has been debating market structure legislation for the past few months. However, crypto policy discussions encompass a broader range of issues, including taxes, decentralized finance regulations, the upcoming midterm election, and state-level approaches to the sector. CoinDesk's Consensus Miami conference will delve into these topics in depth. This newsletter examines the intersection of cryptocurrency and government, and readers can sign up for future editions.
The crypto industry has made significant strides, with the US President signing the first major crypto-specific legislation last year and regulators shifting their enforcement approach. The industry is seeking tax reform, a de minimis exemption for crypto transactions, and a market structure bill that does not overly burden the industry.
The Consensus Miami conference will feature leading lawmakers, regulators, and Congressional staffers, including Senators Kirsten Gillibrand and Ashley Moody, CFTC Chairman Mike Selig, and White House point man on crypto Patrick Witt. The event will also include 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. The summit will close with a debate on prediction markets, discussing whether they are a form of gambling or a novel financial instrument, and who should regulate them.