The Stevens Center is engaged in trailblazing research and thought leadership, focused on the future of finance.
Research Papers
A Comprehensive Approach to Crypto Regulation by Sarah Hammer and Brett Hemenway Falk
Regulation of cryptocurrency is a key policymaking issue of our time. There are many challenges associated with developing and applying legal frameworks to cryptocurrency, as the technology, business practices, and uses of cryptocurrency vary significantly from traditional financial services.
Taming the Wild West: Achieving Public Policy Goals through Crypto Standards by Sarah Hammer and Brett Hemenway Falk
A continued challenge in policymaking related to cryptocurrency is the potential lack of central entity or traditional intermediary that would be the subject of regulatory authority.
Buying Bitcoin by Robert Gutmann, Jonathan Knehr, Phillip Rapoport, Ross L. Stevens
Using live trade execution data from an institutional money manager, the paper measures the real-world costs and challenges a trader faces when demanding significant liquidity of Bitcoin.
Research Priorities
Fostering Innovation
Lending
Payments
Wealth Management
Re(Insurance)
Real Estate
Financial Planning
Cryptocurrency
Policy & Regulation
Thought Leadership
February 2023
Global Cooperation in Digital Assets AML: Lessons from the FATF by Joseph Jasperse
January 2023
The FTX Fiasco: Unpacking the Most Complex Bankruptcy in History
Pillars for a Comprehensive Digital Assets Framework
September 2022
Digital Assets and the Future of Global Financial Stability with CFTC Chairman Rostin Behnam
August 2022
Potential for On-Chain Reserve Reporting for Major Stablecoins by Joseph Jasperse
Understanding the Digital Asset Market Downturn (Presentation at the U.S. Senate)
July 2022
Summary of Global Framework for Digital Assets by Sarah Hammer and Joseph Jasperse
Leadership in Financial Regulation: Fireside Chat with NYDFS Superintendent Adrienne Harris
June 2022
50-State Review of Cryptocurrency and Blockchain Regulation by Joseph Jasperse
Visual Overview of Current U.S. Consumer Protection Framework by Joseph Jasperse
Overview of Types of Stablecoins
Policy Roundtable on Digital Assets Hosted by the University of Pennsylvania
May 2022
Tracker for the President’s March 9, 2022, Executive Order on Digital Assets by Joseph Jasperse
Visuals
Stevens Center Joins in the Fight Against COVID-19
The Stevens Center at Wharton is pleased to announce its collaboration with MiPasa, a blockchain-based data control and communications system engaged in the fight against COVID-19. Working in partnership with IBM, Microsoft, Oracle and others, the consortium aims to address a key problem facing scientists and researchers: lack of integration of verified data sources that can be used with confidence. The data is sourced from the World Health Organization, the Center for Disease Control, and numerous other official sources. The platform leverages the IBM Blockchain Platform and IBM Cloud, and will make sophisticated data analytics and privacy tools available on a Hyperledger platform. One of the major benefits of using a blockchain platform is that it allows multiple parties to collaborate over the validity of rapidly-evolving coronavirus data. Working together, the collaboration will fight to identify and scale responses and solutions in the global war against the COVID-19 pandemic.
For more information on the Stevens Center at Wharton:
https://stevenscenter.wharton.upenn.edu/
Stevens Center Unveils New App Made For Teens, By Teens

There are plenty of apps that can calculate college loan debt, but a new one from Wharton’s Stevens Center for Innovation in Finance is different right down to its digital DNA. This app is built by high school students, for high school students. About 35 juniors and seniors who are interns at the center have been working ...Read More
COVID and the Economy

There are several possible reasons for outperformance of the Nasdaq as the world was hit by COVID-19. Read More
Wharton’s Fintech Specialization
Wharton announces a new online program: “Fintech: Foundations and Applications of Financial Technologies.” With this program Wharton demonstrates its commitment to creating business education that is relevant to today’s rapidly changing business landscape. The four-course specialization is available on the Coursera platform. Topics covered include payments, cryptocurrency and blockchain, lending, crowdfunding, modern investing and insurtech.
Courses Included
Module 1 – Fintech: Foundations, Payments, and Regulations.
Module 2 – Cryptocurrency and Blockchain
Module 3 – Lending, Crowdfunding, and Modern Investing
Module 4 – Fintech Specialties: InsurTech, Real Estate, Artificial Intelligence
Full Specialization – Fintech: Foundations and Applications of Financial Technologies