PwC to Deepen Crypto Engagement Citing US Regulatory Shift

Professional services firm PricewaterhouseCoopers (PwC) is increasing its engagement with cryptocurrency as regulatory clarity and pro-crypto policy shifts in the United States create a more favorable environment for digital assets. The firm's U.S. leader, Paul Griggs, cited the passage of the GENIUS stablecoin act and broader regulatory developments as key reasons for the strategic change. PwC is now offering audit and consulting services to crypto clients, including the bitcoin miner MARA Holdings. PwC's decision follows a period of regulatory uncertainty and enforcement actions that had previously kept the Big Four firm at a distance from the crypto sector. The firm is now actively pitching clients on the use of stablecoins to improve payment systems and has brought back Cheryl Lesnik, a former partner with experience in digital asset management. Griggs emphasized that PwC has strengthened its internal expertise and resources to fully enter the digital assets space. The firm's move is part of a broader trend among professional services firms entering the crypto space. Deloitte, KPMG, and EY have also expanded their services to include digital assets. KPMG declared 2025 as a tipping point for crypto adoption, while Deloitte published its first digital assets roadmap for accounting.

Why Did This Happen?

The regulatory shift under the Trump administration has played a crucial role in PwC's decision. The appointment of pro-crypto regulators and the passage of the GENIUS Act provided clearer legal frameworks for stablecoins and digital asset operations. Griggs stated that these developments have created more conviction among firms to enter the sector. The regulatory environment had been previously marked by uncertainty and enforcement actions, which made it difficult for traditional firms to engage with crypto assets. However, with the new administration's approach, regulators are now prioritizing rule-based oversight rather than enforcement. This has reduced the reputational risk associated with entering the crypto space for major firms like PwC.

How Did Markets Respond?

The move by PwC has been interpreted as a sign of growing mainstream acceptance of digital assets. The firm's commitment to expanding its services in the crypto space signals to investors and clients that the industry is becoming more institutionalized. Stablecoins, in particular, have emerged as a key driver for corporate adoption. Their use in cross-border payments and treasury management has demonstrated tangible business value, making them an attractive area for professional services firms. PwC is advising clients on how to leverage stablecoins for efficient payment systems, reflecting the practical applications of the technology.

What Are Analysts Watching Next?

Analysts are closely monitoring how PwC and other professional services firms navigate the evolving regulatory landscape. The passage of the CLARITY Act in 2026 could further shape the crypto market structure, providing more clarity on taxation, asset classification, and issuance guidelines. Another key area of focus is the global regulatory alignment. With the EU's MiCA framework and the U.S. Genius Act creating a more consistent regulatory environment, multinational firms may find it easier to operate across both markets. This could lead to increased cross-border collaboration and standardization in crypto-related services. The long-term success of PwC's strategy will also depend on how effectively the firm can manage the risks associated with the crypto sector. While regulatory clarity has improved, challenges such as consumer protection and financial stability remain. PwC and its competitors will need to continue refining their offerings to meet both client needs and regulatory expectations. The broader implications of PwC's engagement with crypto could extend beyond the U.S. The firm's decision may encourage European institutions to accelerate their digital asset strategies as the U.S. moves ahead with a more permissive regulatory approach. This could lead to a competitive shift in the global financial infrastructure landscape, particularly in cross-border payments and tokenization markets. PwC's strategic shift reflects the maturation of the crypto industry. What was once seen as a speculative asset class is now being integrated into mainstream financial infrastructure. As more professional services firms enter the space, the market is likely to see increased innovation, standardization, and adoption of digital assets across traditional financial sectors.