PwC to deepen crypto engagement citing US regulatory shift: FT
PwC, one of the Big Four accounting firms, is moving to embrace cryptocurrency after years of taking a non-committal stance toward the crypto asset sector.According to the Financial Times, PwC U.S. Senior Partner and CEO Paul Griggs said that the company has decided to "lean in" to crypto-related work, citing the passage of the GENIUS stablecoin act and the broader pro-crypto shift among U.S. regulators."The Genius Act and the regulatory rulemaking around stablecoin I expect will create more conviction around leaning into that product and that asset class," Griggs told FT. "The tokenization of things will certainly continue to evolve as well. PwC has to be in that ecosystem."Before the reelection of Donald Trump and the subsequent shift toward a more pro-crypto stance among top U.S. regulators, the digital asset sector faced skepticism and scrutiny from authorities, marked by several notable enforcement actions against crypto firms that limited their scope of crypto offerings. This has led the Big Four firm to keep the crypto industry at arm's length, the FT report said.Now, PwC is committed to being "hyper-engaged" in expanding both its auditing and consulting businesses to work with crypto-related clients, Griggs said. The firm has been pitching clients on how they can utilize crypto, such as stablecoins, to enhance payment system efficiency, according to the report.PwC has also strengthened its internal crypto expertise. It recently rehired Cheryl Lesnik, who specialized in managing digital asset clients in the past three years, as partner. Griggs said PwC has "bolstered our resource pool inside and outside" to fully enter the digital assets arena. PwC currently provides audit services to bitcoin miner MARA Holdings.The company's pro-crypto shift signals broader acceptance of digital assets across mainstream finance. KPMG, another Big Four accounting firm, said crypto asset adoption has met its "tipping point" in 2025, and has been providing compliance advice and risk management services around crypto. Deloitte also published its first "digital assets roadmap" for crypto accounting last May.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2025 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.