PwC Intensifies Focus on Cryptocurrency Following Regulatory Changes

PricewaterhouseCoopers (PwC), a prominent player among the Big Four accounting firms, is significantly increasing its involvement in the cryptocurrency sector. This strategic shift follows a more favorable regulatory environment under the Trump administration, which has encouraged corporate initiatives in digital assets.

Key Takeaways

PwC is expanding its efforts in the cryptocurrency sector, motivated by recent regulatory changes.
The GENIUS Act, signed in July 2025, establishes a regulatory framework for stablecoins, enhancing their acceptance in mainstream finance.
Increased demand for audits and expertise in digital assets is anticipated as the industry evolves.
PwC is enhancing its capabilities through new hires and strategic partnerships to support its growing client base in the crypto space.

PwC

PwC's Expanding Role in Cryptocurrency

PwC is deepening its engagement in the world of cryptocurrency after years of cautious participation. The firm has noted that the recent shift in regulatory attitudes during the Trump administration has provided corporate America with greater freedom to explore digital asset opportunities.

Paul Griggs, the US senior partner at PwC, shared with the Financial Times that the firm has decided to "lean in" as the federal government introduces pro-crypto officials and Congress implements new regulations that are likely to impact sectors closely monitored by banks and large corporations.

This shift in focus coincides with the transition of stablecoins from being niche products for crypto traders to becoming fundamental components of mainstream payment systems.

New Legislation and SEC Approaches Bring Crypto Closer to Mainstream Finance

In July 2025, President Donald Trump signed the GENIUS Act into law, which established a federal framework for the regulation of payment stablecoins. This law also paves the way for banks to produce their own stablecoins.

Griggs expressed optimism that this legislation, along with the regulatory adjustments surrounding stablecoins, will bolster confidence in these financial products and asset classes. He emphasized that the ongoing tokenization trend is set to continue evolving, and that PwC must integrate itself within that ecosystem.

The Securities and Exchange Commission (SEC) is also experiencing changes. Chair Paul Atkins has advocated for clearer and more predictable regulations pertaining to cryptocurrency markets. Reports from Reuters indicate that the SEC is developing new protocols for the issuance, custody, and trading of tokens.

Given its status as one of the world's foremost professional services networks, famous for auditing public companies and offering tax, deal, and risk management advice, PwC is well-positioned to meet the growing demands of this sector.

Rising Demand for Audits and Expertise in a Regulated Environment

As cryptocurrency products transition into the realm of regulated finance, clients increasingly require auditors who can verify reserves, governance, and transparency. They also need consultants capable of tracing how tokenized cash and assets operate within real-world systems.

Historically, the Big Four accounting firms were cautious in engaging with many crypto clients in the United States due to regulatory skepticism and the industry's past failures, which contributed to reputational risks.

Regulatory bodies have consistently raised concerns regarding consumer protection and the involvement of digital assets in fraud and money laundering practices.

However, as the regulatory landscape becomes more supportive, Griggs noted that PwC has been promoting crypto technologies as practical enhancements for payment systems, positioning stablecoins as a method for enabling faster and less expensive transfers.

PwC Strengthens its Crypto Expertise for New Opportunities

In addition to its advisory role, PwC is undertaking audit responsibilities in the crypto sector. Recently, Mara Holdings, a publicly traded bitcoin mining company, has appointed PwC as its auditor for the fiscal year ending December 31, 2025.

Griggs emphasized the importance of preparing the firm before expanding its services. This includes securing key senior hires like Cheryl Lesnik to enhance expertise.

"We are never going to lean into a business that we haven’t equipped ourselves to deliver," Griggs stated in his conversation with the Financial Times. "Over the past 10 to 12 months, as we’ve embraced more opportunities in the digital assets sector, we've strengthened our resource pool both internally and externally."

This movement is not occurring in a vacuum. Other major firms like Deloitte and KPMG are also actively expanding their services related to digital assets, with Deloitte auditing Coinbase since 2020 and KPMG promoting compliance and risk services in the cryptocurrency realm. This concerted effort demonstrates how the Big Four are positioning themselves as the cryptocurrency market evolves, with tokenization and regulated stablecoins connecting traditional finance more closely with the crypto industry.