This briefing note summarizes the February IIF Digital Asset Forum, respecting that the forum is conducted under the Chatham House Rule. Participants discussed takeaways from 2022 for digital assets. Despite negative market sentiment toward speculative activities, many saw opportunities to integrate underlying technologies and to clarify business models. Questions about the value of DLT in relation to digital assets versus other technologies were raised, as were increasingly nuanced conversations about regulatory perimeters. Participants agreed that the industry was in the process of evaluating the sources of risks in digital assets and the appropriate mitigants regulated institutions could put into place. The IIF convenes the Digital Asset Forum with our knowledge partner, the Oliver Wyman Forum. Note that these briefings do not represent the policy position of the IIF or its membership.