As followers of this newsletter are aware, the US Congress has been engaged in discussions on market structure legislation over the past few months. However, crypto policy encompasses a wide range of issues beyond this, including taxes, decentralized finance regulations, the upcoming midterm elections, and more.
CoinDesk's Consensus Miami conference will delve into these topics in depth next month. 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 focus on significant policy changes in the digital asset space.
Last year, the US President signed the first substantial crypto-specific legislation, and regulators have since shifted their approach to enforcement actions. Congress has been debating the finer details of issues like stablecoin yield treatment.
In essence, the crypto industry has established itself as a major player. Although the industry experienced significant growth last year, with bitcoin prices soaring and legislation appearing imminent, the current year has seen stagnant crypto prices and time running out for Congress to pass market structure legislation.
Despite this, regulators have begun proposing rules for stablecoin companies, and lawmakers are considering reforms to US crypto tax policy. The industry is seeking tax reform, hoping the market structure bill will become law without overly burdening the industry, and looking ahead to the November elections.
Consensus Miami will bring together leading lawmakers, regulators, and industry experts to discuss these topics. The conference will feature a Policy & Regulation Summit, exploring key issues like decentralized finance compliance with anti-money laundering rules, taxes in the new 1099-DA era, and the Clarity Act.
Sessions will also focus on the 2026 midterm elections and the crypto industry's engagement with the election. The summit will conclude with a debate on prediction markets, discussing whether they are a form of gambling or a novel financial instrument, and who should regulate them. These questions may eventually be decided by the US Supreme Court, but Consensus Miami will provide a preview of the arguments.