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Michael Maurer shares DCI’s public blockchains report on BFRR podcast

DCI’s Michael Maurer and Wee Kee Toh of Kinexys by J.P. Morgan joined the Bitcoin, Fiat & Rock´n´Roll (BFRR) podcast to discuss our latest collaborative report "Public Blockchains and Regulated Financial Institutions: Key Challenges, Layered Solutions, and a Path Forward" on what keeps regulated financial institutions off public, decentralized ledgers, and to touch on what techniques or modifications could allow institutions to come onto these platforms. Go give it a listen!

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Neha’s writings: Quick thoughts on the Liquid hack

Yesterday Liquid, a federated sidechain created by Blockstream, was compromised and 4,000 BTC was taken from its bridge by a whitehat hacker. This is a very quick post on what happend and a few thoughts. This is all unfolding, so it’s quite likely I got something wrong. I’ll try to post updates and corrections quickly as I understand them. Also, please keep in mind that Bitcoin itself was not compromised. As far as I know, this has nothing to do with a bug or issue in Bitcoin itself. There are a few important things to understand about this hack.

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A Comparison of Bitcoin Covenant Proposals for Vaults

Bitcoin covenants restrict how an output may be spent by placing conditions in that output’s locking script. Covenants can be used to construct vaults, which give an owner time to recover funds after an unauthorized withdrawal attempt. This report compares simplified vault constructions using presigned transactions, CTV, APO/APOAS, TXHASH, CCV, and the OP_CAT-based Purrfect Vault. We consider their tradeoffs in terms of withdrawal flexibility, fee management, operational complexity, and on-chain cost. 

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An Introduction to DCI Global: Watch to learn more

This session is designed to welcome the broader community, introduce DCI Global and its mission, share updates on current core projects, introduce the planning committee, and help you identify clear ways to get involved. Learn how to become part of DCI Global, collaborate on research with others in the network, bring or expand cryptocurrency education offerings at your academic institution, and engage with a community dedicated to rigorous, neutral research on whether and how Bitcoin and digital currencies help people financially flourish. This introduction was recorded during the DCI Global Research Network’s First Community Call on May 27, 2026.

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MIT DCI Releases “Public Blockchains and Regulated Financial Institutions: Key Challenges, Layered Solutions, and a Path Forward”

In this whitepaper, we explore the challenges that financial institutions face when issuing assets on public blockchains. The infrastructure that traditional finance runs on today is fundamentally different from public blockchains, and this new environment comes with new risks and challenges. We explore some of these challenges in detail, and where possible look to propose how they can be addressed. In addition, we discuss where it would be most effective to address given challenges, whether by financial institutions, protocol developers, or the regulatory environment. This work was performed in collaboration with Kinexys by J.P. Morgan. 

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Neha on Currency of Power Podcast

In this conversation, Neha explains why CBDCs and stablecoins are less different than most people assume, what Project Hamilton set out to do and what it left unresolved, why zero-knowledge proofs are not a privacy solution on their own, and what a decentralized community like Bitcoin can realistically do to prepare for quantum computing. She also takes the geopolitical temperature: what Iran’s reported willingness to accept Bitcoin payments actually signals, and why, in her view, the dollar remains the game to lose.

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MIT DCI Releases in New Collaborative Paper: “Stablecoins in Africa:Translating Global Principles into Local Regulatory Practice Paper”

EXECUTIVE SUMMARY Stablecoin adoption is accelerating globally, with particularly significant implications for African markets where cross-border payments remain costly, foreign currency liquidity is uneven, and financial inclusion gaps persist. Across the continent, stablecoins are already being used for remittances, peer-to-peer transfers, trade settlement, and as a store of value in response to currency volatility. Regulatory approaches must therefore respond to an active and evolving ecosystem rather than a purely emerging one.

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Bitcoin and Quantum Computing: A Roadmap

I felt kind of guilty about my last post, so I have spent a bit of time thinking about post-quantum Bitcoin. This includes:

  1. Thinking through specifically what I think a good “roadmap” would be to get Bitcoin to a place where it is secure in the presence of a CRQC

  2. Surveying everything that has been going on in Bitcoin-post-quantum-land

  3. Identifying the remaining open questions

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Bitcoin and Quantum Computing

Bitcoin’s signatures are broken if a cryptographically-relevant quantum computer (CRQC) were to appear tomorrow. Bitcoin requires changes both to its code and to everyone’s wallets (at least a soft fork and many users moving coins to different types of addresses) to be secure in the presence of a CRQC.

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DCI appearance on podcast episode, speak about stablecoins

On March 16th, 2026, Neha Narula, Anders Brownworth, and Daniel Aronoff appeared on the Mercatus Center’s “Macro Musings” podcast with David Beckworth to discuss the DCI’s latest paper on stablecoins, The Hidden Plumbing of Stablecoins: Financial and Technological Risks in the GENIUS Act Era. “Neha Narula is the director of the Digital Currency Initiative which is based out of the Media Lab at MIT. Anders Brownworth is veteran software engineer in the crypto space and is a Senior Research Advisor at DCI. Daniel Aronoff is Research Affiliate in the MIT Department of Economics and a Collaborator at DCI. Neha, Anders, and Daniel join the show to discuss their work at DCI, the current state of stablecoins, their paper on the hidden plumbing of stablecoins, the basic mechanics of stablecoins, the technical and operational risks of stablecoins, the implications for the treasury market, interoperability between blockchains, and much more.”

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Neha Narula talks stablecoins on Bloomberg Crypto

Stablecoins Pose Risks Under Stress: MIT's Neha Narula

As GENIUS-compliant stablecoins scale into mainstream use, a new MIT paper evaluates the financial, technological, and regulatory risks that may arise. One of the paper's authors, Neha Narula, says not all blockchains are created equal. She speaks with Scarlet Fu and Tim Stenovec on "Bloomberg Crypto."

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MIT DCI releases “The Hidden Plumbing of Stablecoins: Financial and Technological Risks in the GENIUS Act Era.”

U.S. dollar stablecoins are increasingly used as payment and settlement instruments beyond cryptocurrency markets. With the enactment of the GENIUS Act in 2025, the United States established the first comprehensive federal framework governing their issuance, backing, and supervision. This paper evaluates the financial, technological, and regulatory risks that may arise as GENIUS-compliant stablecoins scale into mainstream use.

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MIT DCI's Comment in Response to the Department of Treasury's ANPRM on the GENIUS Act

The MIT DCI participated in the Department of Treasury's Advanced Notice of Proposed Rulemaking on the GENIUS Act. We submitted our letter alongside nearly 400 other industry participants who are interested in advancing stablecoin regulation in the United States. We aimed to highlight a few key risks of stablecoins that warrant deeper consideration and that we plan to expand upon during the subsequent NPRM.

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Crypto Still A Bit of "Wild West": Neha Narula Talks Crypto Resilience on Bloomberg

Neha Narula, Director of the Digital Currency Initiative at the MIT Media Lab, joined Bloomberg’s Crypto this week to reflect on the recent $19 billion wipeout in digital assets—now the largest crypto liquidation event on record.

“Crypto is still a little bit of the Wild West,” Narula told host Scarlet Fu. “But what’s impressive is that the on-chain systems kept working. No bailouts. No rollbacks.”

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The GENIUS Act is Now Law. What’s Missing?

The GENIUS Act is a landmark moment for stablecoin regulation in the US and introduces a step forward in bringing private digital dollars into the regulated financial system. But now comes the hard part: regulators from agencies like the Fed, Treasury, OCC and FinCEN will need to work together to decide how these rules get implemented, are enforced and are evolved.

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