PwC: US regulatory shift becomes clearer, expanding cryptocurrency business footprint

On January 5th, PwC CEO Paul Griggs stated that as the U.S. cryptocurrency regulatory environment becomes clearer, the company has decided to expand its cryptocurrency and digital asset-related businesses. In an interview with the Financial Times, he pointed out that the new leadership of U.S. regulators and the advancement of the GENIUS Act (legislation related to stablecoins) are key factors prompting PwC to change its stance. Griggs said that legislation and regulatory rules around stablecoins will boost market confidence, and the trend of asset tokenization will continue to develop, “PwC must be part of this ecosystem.” As one of the “Big Four” accounting firms globally, PwC currently lists on its official website a range of crypto-related services including auditing, accounting, cybersecurity, wallet management, and compliance and regulatory consulting. Its clients include crypto exchanges, traditional financial institutions attempting to enter the crypto space, as well as governments, central banks, and regulators. Griggs revealed that over the past 10–12 months, PwC has continuously increased its resource investment in the digital asset field, “whether in auditing or consulting, we have almost full coverage in the crypto sector and are seeing more and more business opportunities.” Currently, all four major accounting firms have fully entered the crypto industry: Deloitte offers blockchain strategy and consulting services; EY covers crypto strategy and tax support; KPMG provides crypto auditing, cybersecurity, and consulting networks. Market opinion suggests that the collective expansion of the Big Four reflects the fact that, against the backdrop of a warming U.S. regulatory environment, crypto assets are being further embraced by mainstream professional service systems.