With the US regulatory environment shifting following the passage of the GENIUS Act, a stablecoin legislation, PwC, one of the Big Four accounting firms, announced a full commitment to the crypto business, encompassing auditing, advisory, and regulatory consulting. This move not only signifies the end of PwC's years-long wait-and-see approach but also signals the rapid blurring of the lines between traditional finance and blockchain.
With US regulations easing, PwC is entering the crypto business: now is the perfect time.
In an interview with the Financial Times , PwC US CEO Paul Griggs stated that the company has undertaken a comprehensive internal deployment of human resources and expertise to actively expand its cooperation with crypto companies.
He pointed out that the key reason for the shift was the passage of the GENIUS Act and the clear regulations from regulators regarding stablecoins, leading the company to believe that now is the best time to invest in the crypto ecosystem.
I anticipate that greater regulatory clarity will give people more confidence to invest in related products and asset classes. The tokenization of everything will undoubtedly continue to evolve, and PwC must participate in this ecosystem.
He admitted that the cryptocurrency sector has faced suspicion and scrutiny from authorities in the past, especially numerous enforcement actions against cryptocurrency companies, which has led many accounting firms to keep their distance from the crypto industry.
From Conservative to Dedicated: PwC Offers "Comprehensive" Encryption Services
In Taiwan, PwC lists a range of cryptocurrency-related services on its website , including accounting and taxation, information security, legal advisory and consulting, blockchain applications, and risk management. As of October last year, the company's global revenue was US$56.9 billion.
Griggs emphasized, "We won't enter an area where we're not ready. Over the past 10 to 12 months, as we've gained more opportunities in the digital assets space, we've also strengthened our internal and external resources."
Whether it's auditing or consulting, PwC can assist.
The Big Four accounting firms are fully involved: Cryptocurrency is becoming an essential business in the new era.
PwC's shift is not an isolated case; the Big Four accounting firms are also simultaneously entering the crypto industry.
KPMG provides crypto audit, risk control and compliance services.
Deloitte has established a blockchain consortium to provide consulting services to companies such as Ava Labs, Bitwave, and Chainalysis.
Ernst & Young (EY) provides encryption strategies and tax services.
From individuals to businesses: PwC launches its "Crypto Expansion Plan" across all industries.
Today, PwC's statement targets not only crypto exchage but also traditional banks, payment providers, regulators, and even government agencies looking to enter the field. Griggs indicates that PwC has been steadily increasing its caseload in the crypto space over the past year, with both auditing and consulting showing steady growth.
PwC's shift sends a signal to the market: as the Big Four accounting firms move into the cryptocurrency space, the adoption of blockchain technology is moving from a niche market to the general public and businesses.
This article, "PwC to Enter Cryptocurrency Business: Cannot Be Absent from the Tokenization Wave," first appeared on ABMedia .
