U.S. policymakers may begin laying down serious regulatory guardrails for the digital asset industry in 2023 as the spectacular collapse of cryptocurrency exchange FTX looks to have opened a wider window of opportunity for bipartisan action. The SEC has been clear that tokens sold via initial coin offerings are securities and that many cryptocurrencies are likely securities, that's about as much regulation that investors in the crypto space can rely on. Nicholas Losurdo, Financial Industry and Digital Currency & Blockchain partner who previously served as counsel to former SEC Commissioner Elad Roisman, told Law360 that while the SEC's mantra to register may appear straightforward, "when you get down to brass tacks, it's not always that simple or easy."