As regular readers may know, the US Congress has been debating market structure legislation for months, but the scope of crypto policy discussions extends far beyond this single issue, encompassing topics such as taxation, decentralized finance regulations, the upcoming midterm elections, and more. CoinDesk's Consensus Miami conference will delve into each of these topics in detail. This newsletter, State of Crypto, examines the intersection of cryptocurrency and government.
To receive future editions, click here to sign up. Upcoming discussions in Miami We have previously noted the significant policy changes surrounding digital assets.
Last year, US President Donald Trump signed the first major 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 become a mainstream player. While the industry took a victory lap last year, with bitcoin's price soaring and legislation seeming imminent, this year has seen crypto prices stagnate amidst broader economic stresses, and time is running out for Congress to pass market structure legislation in its current form.
However, regulators have begun proposing rules for stablecoin companies based on last year's GENIUS Act, lawmakers are considering reforms to US crypto tax policy, and the industry has cemented its position to the point where it can no longer be dismissed. So, what's next?
The industry is still seeking tax reform, hoping the market structure bill will become law without overly burdening the industry, and looking ahead to the November elections, when the US will choose the next Congress. We will explore these topics further at Consensus Miami, our annual event that brings together key players 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 broader policy landscape. Additionally, we are bringing back the Policy & Regulation Summit, a full-day event dedicated to 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 navigate taxes in the new 1099-DA era, and how states are approaching the crypto sector.
We will have a series of sessions focused on the 2026 midterm elections, including the crypto industry's engagement with the election and what to expect next year when the new Congress takes office. 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. The Policy Summit, and Consensus as a whole, will conclude with a debate on one of the most significant topics in the country: prediction markets.
Are they a form of gambling, or a novel financial instrument? And who should regulate these products?
These questions may eventually be decided by the US 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 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.