Nikolas Sargeant
PwC is significantly expanding its cryptocurrency and digital asset services following years of cautious engagement, with the Big Four accounting firm stating the Trump administration's policy shift has provided corporate America greater confidence to pursue blockchain-based financial products.
Paul Griggs, PwC's US senior partner, told the Financial Times the firm decided to "lean in" as Washington installed pro-cryptocurrency regulators and Congress advanced legislation establishing frameworks for digital asset market segments that banks and major corporations monitor closely.
The strategic pivot arrives as stablecoins transition from specialized tools for cryptocurrency traders toward mainstream payment infrastructure, with major financial institutions and corporations exploring applications in cross-border settlements, treasury management, and commercial transactions.
President Donald Trump signed the GENIUS Act into law in July 2025, establishing a federal regulatory framework for payment stablecoins and authorizing banks to issue their own dollar-backed tokens. The legislation created reserve requirements, compliance standards, and regulatory oversight mechanisms designed to bring stablecoins within traditional financial supervision.
"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 stated. "The tokenization of things will certainly continue to evolve as well. PwC has to be in that ecosystem."
Regulatory dynamics are also shifting at the Securities and Exchange Commission under Chair Paul Atkins, who has emphasized creating clearer, more predictable rules for cryptocurrency markets. Reuters reported the agency is developing new approaches for how tokens are issued, held, and traded, moving away from the enforcement-heavy strategy of the previous administration.
PwC occupies a strategic position in this evolution as one of the world's largest professional services networks, primarily known for auditing public companies and advising executives on tax strategy, mergers and acquisitions, internal controls, and risk management. As cryptocurrency products integrate into regulated finance, clients require auditors capable of testing reserve holdings, governance structures, and disclosure accuracy, alongside consultants who can architect how tokenized cash and assets flow through established operational systems.
Until recently, the Big Four accounting firms maintained elevated barriers for many cryptocurrency clients in the United States, partly because regulators signaled skepticism and the sector carried reputational risk following repeated high-profile failures. Regulatory agencies have consistently flagged consumer protection concerns and digital assets' use in fraud and money laundering schemes.
With US policy sentiment becoming more accommodating, Griggs said PwC has been positioning cryptocurrency technology as practical infrastructure upgrades for payment systems, framing stablecoins as mechanisms to accelerate transfers and reduce costs in specific transaction corridors.
PwC is simultaneously expanding audit engagements in the sector. Mara Holdings, a publicly traded Bitcoin mining company, appointed PwC as its auditor for the fiscal year ending December 31, 2025, according to company filings. The engagement demonstrates PwC's willingness to take on cryptocurrency-native businesses as clients.
Griggs stated PwC needed to develop internal capabilities before accepting additional work, including senior hires such as Cheryl Lesnik. "We are never going to lean into a business that we haven't equipped ourselves to deliver," he told the Financial Times. "Over the last 10 to 12 months, as we've taken on more opportunities in that digital assets arena, we've bolstered our resource pool inside and outside."
The expansion does not occur in isolation. Deloitte has audited Coinbase since 2020, while KPMG has marketed digital asset compliance and risk services, as the Big Four position for a market where tokenization and regulated stablecoins integrate traditional finance with cryptocurrency infrastructure.
