The SEC is not the only regulator with a keen focus on digital assets. The CFTC recently released a report of its enforcement activity in its 2021-2022 fiscal year (FY2022). Of the 82 enforcement actions the agency brought in FY2022, 31 involved digital assets. A significant number also concerned recordkeeping and supervisory failures. This article distills the enforcement report, with commentary from former CFTC attorneys David Slovick, partner at Barnes & Thornburg, and Elizabeth Lan Davis, partner at Davis Wright Tremaine LLP. See our two-part review of CFTC activity: “Enforcement Actions” (Apr. 15, 2021); and “Regulatory Actions” (Apr. 29, 2021); as well as “CFTC Enforcement Division Aims to Foster ‘True Culture of Compliance,’ According to Report” (Jan. 16, 2020).