PwC Goes All In on Crypto After US Regulation Shift

TLDR

• PwC is expanding its crypto services after clearer US regulations emerged, including the GENIUS Act for stablecoins
• CEO Paul Griggs cited new leadership at regulators like the SEC as a key factor in the decision
• PwC offers crypto accounting, cybersecurity, wallet management, and regulatory advice to exchanges, banks, and governments
• All Big Four accounting firms (PwC, Deloitte, Ernst & Young, KPMG) now provide crypto-related services
• PwC is pitching clients on using stablecoins to improve payment system efficiency

PricewaterhouseCoopers announced it will expand its cryptocurrency business following recent changes in US regulation. The accounting firm cited clearer rules and new leadership at federal agencies as reasons for the shift.

Paul Griggs serves as PwC’s US senior partner and CEO. He told the Financial Times that stablecoin legislation and updated regulatory frameworks made the decision easier.

The GENIUS Act passed recently and focuses on stablecoin regulation. Griggs said this law will create more confidence for companies entering the digital asset space.

New leadership at the Securities and Exchange Commission played a role in PwC’s decision. The firm sees these changes as creating a more predictable environment for crypto businesses.

PwC is part of the Big Four accounting firms. The group includes Deloitte, Ernst & Young, and KPMG as the largest professional services companies globally.

Services and Clients

PwC lists several crypto services on its website. These include accounting, cybersecurity, wallet management, and regulatory advice for digital assets.

The firm works with cryptocurrency exchanges and traditional financial institutions entering the sector. PwC also serves governments, central banks, regulators, and policymakers.

Griggs told the Financial Times that PwC has been growing its crypto team. The expansion happened over the past 10 to 12 months as client demand increased.

PwC operates in both audit and consulting areas for crypto clients. Griggs said the firm sees more opportunities in the digital assets space.

The company is pitching clients on stablecoin use cases. PwC believes stablecoins can improve payment system efficiency for banks and fintech companies.

Big Four Accounting Firms in Crypto

All four major accounting firms now offer crypto services. Deloitte provides blockchain strategy and consulting work for clients.

Deloitte partners with Ava Labs, Bitwave, and Chainalysis. These partnerships help the firm deliver blockchain services to customers.

Ernst & Young offers crypto strategy and tax support. The firm helps clients navigate digital asset regulations and reporting requirements.

KPMG provides crypto audits and cybersecurity services. The company also runs an advisory network for blockchain clients.

PwC’s global revenues reached $56.9 billion as of October. The firm sees crypto as a growing part of its business model going forward.

President Donald Trump’s reelection shifted the regulatory tone in Washington. Federal agencies have taken a more welcoming approach to cryptocurrency companies since then.

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