As subscribers to this newsletter are aware, the U.S. 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-level approaches to the sector.
The Consensus Miami conference, scheduled to take place next month, will delve into each of these topics in detail. This newsletter examines the intersection of cryptocurrency and government.
To receive future editions, click here to sign up. The conversations in Miami will focus on significant policy changes surrounding digital assets. Last year, U.S. President Donald Trump signed the first substantial 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 established itself as a major player. Although the industry experienced significant growth last year, with bitcoin's price soaring to over $120,000 and electoral wins in 2024, the current year has seen a slowdown in crypto prices amid broader economic stresses.
Despite this, regulators have begun proposing rules for stablecoin companies based on the GENIUS Act, and lawmakers are considering reforms to U.S. crypto tax policy.
The industry appears to have solidified its position, making it impossible to dismiss. 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. Additionally, the industry is looking ahead to the November elections, which will determine the next Congress.
These topics will be discussed in more detail at Consensus Miami, which will bring together leading lawmakers, regulators, and industry experts. The event will feature speakers such as Senators Kirsten Gillibrand and Ashley Moody, CFTC Chairman Mike Selig, and Patrick Witt, the White House's point person on crypto.
Congressman Steven Horsford, who recently introduced a new version of the Parity Act, will participate in a discussion about the bill. The Policy & Regulation Summit will be a key part of the event, with an entire day dedicated to exploring key policy and regulatory issues.
The summit will address questions such as whether decentralized finance can comply with anti-money laundering rules, how to deal with taxes in the new 1099-DA era, and how states are approaching the 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 next year when the new Congress takes over. The event will feature speakers 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. The Policy Summit will conclude with a debate on one of the most significant topics in the country: prediction markets.
The debate will explore whether prediction markets are a form of gambling or a novel financial instrument and who should regulate these products. These questions may eventually be decided by the U.S.
Supreme Court, but Consensus Miami will provide a preview of the arguments on May 7. For feedback or suggestions on future topics, please email nik@coindesk.com or join the conversation on Telegram.