As this newsletter has been tracking, the US Congress has been engaged in intense debates over market structure legislation for crypto, but the scope of crypto policy extends far beyond this single issue, encompassing taxes, decentralized finance regulations, the upcoming midterm elections, and state-level initiatives. The Consensus Miami conference, scheduled for next month, will delve into each of these topics in depth.
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The conversations in Miami will reflect the significant evolution in policy changes regarding digital assets. Last year, a landmark crypto-specific legislation was signed into law by US President Donald Trump, marking a shift in regulators' enforcement approaches.
The current debates in Congress are now focused on finer details, such as the treatment of stablecoin yields. In essence, crypto has become a mainstream topic. This was evident last year when the crypto industry celebrated its electoral wins in 2024, with bitcoin's price surging over $120,000 and legislation appearing imminent. Although the landscape has become somewhat challenging this year, with crypto prices being stagnant amid broader economic stresses and time running out for Congress to pass market structure legislation, there are positive developments.
Regulators have started proposing rules for stablecoin companies based on the GENIUS Act, lawmakers are considering reforms to US crypto tax policy, and the industry has solidified its presence to the point of being undeniable. Looking ahead, the industry is seeking tax reforms, including a de minimis exemption for crypto transactions, hoping for the market structure bill to become law without overly burdening the industry, and anticipating the November elections, which will determine the next Congress. These threads will be picked up at Consensus Miami, where leading figures such as Senators Kirsten Gillibrand and Ashley Moody, regulators like CFTC Chairman Mike Selig, and the White House's Patrick Witt will share their insights over a three-day conference.
Additionally, Congressman Steven Horsford, who introduced a new version of the Parity Act to address crypto taxation, will participate in a discussion. A meetup for those interested in the election and the broader policy landscape is also planned. The Policy & Regulation Summit will be a key part of the event, dedicating an entire day and stage to exploring critical policy and regulatory issues in-depth, including how decentralized finance can comply with anti-money laundering rules, the implications of the new 1099-DA era for taxes, the significance of the Clarity Act, and how states are approaching the crypto sector.
A series of sessions will focus on the 2026 midterm elections, including the crypto industry's engagement with the election and expectations for the new Congress. Insights will be shared by individuals deeply involved in policymaking, 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 will conclude with a debate on one of the most pressing topics: prediction markets. Are they a form of gambling, or a novel financial instrument? And who should regulate these products?
These questions are likely to be deliberated by the US Supreme Court, but Consensus Miami will preview the arguments. For feedback or suggestions on future topics, feel free to email nik@coindesk.com or connect on Bluesky @nikhileshde.bsky.social.
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