Regulatory Shift Prompts PwC to Expand Crypto Business Operations
PwC, a leading global accounting firm, is decisively expanding its engagement with the cryptocurrency industry after a period of measured distance.
CEO Paul Griggs explained to the Financial Times that the decision to “lean in” is a direct response to evolving US regulation, including new stablecoin legislation and a more favorable stance from financial watchdogs.
“The GENIUS Act and the regulatory rulemaking around stablecoin I expect will create more conviction,” Griggs said, emphasizing that the trend of tokenization necessitates PwC’s presence in the ecosystem.
This new direction contrasts with the firm’s earlier wariness. Before the recent political and regulatory shift following the reelection of Donald Trump, US authorities’ skepticism and enforcement actions led PwC to keep the sector at arm’s length.
Currently, PwC aims to be “hyper-engaged,” growing its crypto-focused audit and advisory work. The firm is guiding clients on applications such as stablecoin payments and has strengthened its team, notably by bringing back digital assets partner Cheryl Lesnik. Its existing crypto commitments include providing audit services to Bitcoin miner MARA Holdings.
