2021 was a watershed year for digital assets and the broader alternative-finance movement. Buy-in from major institutional investors led to record market valuations for popular cryptocurrencies and stablecoins. At the same time, a flurry of new blockchain networks and smart-contract offerings were made available, giving consumers greater access to alternative financial applications. As the alternative financial system continues to grow rapidly, regulators and policymakers must provide clarity to fundamental questions. For market participants and investors, what are the biggest opportunities and challenges for digital assets and blockchain technology in 2022?