PricewaterhouseCoopers (PwC), one of the world's 'Big Four' accounting firms, is significantly deepening its engagement with the cryptocurrency sector, driven by a more favorable U.S. regulatory environment and the mainstreaming of stablecoins. According to a report by the Financial Times, PwC U.S. Senior Partner and CEO Paul Griggs stated the firm plans to "lean in" to crypto-related work, marking a strategic pivot after years of maintaining a cautious distance.
Griggs identified the passage of the GENIUS Act and the accompanying regulatory rulemaking around stablecoins as a key catalyst. "The GENIUS Act and the regulatory rule making around stablecoin, I expect, will create more conviction around leaning into that product and that asset class," he told the FT. He also highlighted the ongoing expansion of tokenization, asserting that "PwC has to be in that ecosystem."
This shift follows the reelection of President Donald Trump and a subsequent pro-crypto tone from U.S. regulators, which has improved the outlook for stablecoins, tokenization, and broader digital asset infrastructure. Previously, regulatory uncertainty and high-profile enforcement actions made it difficult for service providers like PwC to assess risks and build compliance processes.
PwC now plans to be "hyper engaged" across both its audit and consulting business lines to serve crypto clients. The firm has been actively pitching clients on using stablecoins to enhance payment system efficiency, a theme gaining traction among banks and fintech firms exploring programmable settlement and faster cross-border transfers.
To support this push, PwC has bolstered its internal expertise, including rehiring former partner Cheryl Lesnik, who specializes in digital assets. The firm currently provides audit services to bitcoin miner MARA Holdings. This move by PwC signals broader institutional acceptance, with other Big Four firms like KPMG and Deloitte also expanding their crypto advisory and compliance services.
