As regular readers of this newsletter are aware, the US Congress has been debating market structure legislation for the past few months. However, discussions surrounding crypto policy encompass a wide range of issues beyond this, including taxes, regulations for decentralized finance, the upcoming midterm election, and more. CoinDesk's Consensus Miami conference will delve into each of these topics in detail next month.
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Upcoming conversations in Miami We have previously noted the significance of policy changes regarding digital assets. Last year, US President Donald Trump signed the first substantial crypto-specific legislation. Regulators have since shifted their approach to enforcement actions.
Congress has been debating the finer points of issues like stablecoin yield treatment, rather than the broader aspects of a potential market structure bill. In essence, cryptocurrency has arrived. This was also true last year, when the crypto industry celebrated its electoral wins in 2024 and bitcoin's price soared to over $120,000, with legislation appearing imminent. This year has been more challenging, with crypto prices stagnant amidst broader economic stress and time running out for Congress to pass market structure legislation in its current form.
Despite this, 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 established itself to the point where it can no longer be dismissed. So, what's next? The industry is still seeking tax reform, including a de minimis exemption for crypto transactions, and hopes that the market structure bill will become law without overly burdening the industry.
It is also looking ahead to November, when the US will elect the next Congress. We will be exploring these topics in more depth at Consensus Miami, our annual event that brings together key figures from the industry. You will hear from leading lawmakers like Senators Kirsten Gillibrand and Ashley Moody, regulators such as CFTC Chairman Mike Selig and the White House's crypto point man, Patrick Witt, as well as Congressional staffers throughout the three-day conference.
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 policy landscape in general. We are also bringing back the Policy & Regulation Summit, a full day and stage dedicated to in-depth exploration of key policy and regulatory issues.
The policy summit is designed to address some of the most pressing questions that lawmakers, regulators, compliance officers, and builders must answer, including how decentralized finance can comply with anti-money laundering rules, how to deal with taxes in the new 1099-DA era, and what the Clarity Act entails, as well as how states are approaching this sector. We will have a series of sessions focused on the 2026 midterm election, including how the crypto industry is engaging with the election and what to expect next year when the new Congress takes over.
Along the way, 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. We will conclude the Policy Summit, and Consensus as a whole, with a debate on one of the most significant topics in the country: prediction markets. Are they merely a form of gambling, or are they 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. 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 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.