Hassan Maishera
TL;DR
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Leading accounting and consulting firm PwC is leaning into more crypto-related work.
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The company made this decision due to the regulatory shift in the United States.
PwC to Lean Into More Crypto-related Work
PwC, one of the Big Four accounting firms, has revealed that it will embrace cryptocurrency after years of taking a non-committal stance towards the industry.
In a report by the Financial Times, PwC U.S. Senior Partner and CEO Paul Griggs revealed that the accounting firm has decided to lean in to crypto-related work, citing the passage of the GENIUS stablecoin act in the United States.
Griggs told Financial Times that,
"The Genius Act and the regulatory rulemaking around stablecoin, I expect, will create more conviction around leaning into that product and that asset class. The tokenization of things will certainly continue to evolve as well. PwC has to be in that ecosystem."
This latest development comes amid the positive regulatory shift in the United States since President Trump assumed office early last year.
Thanks to the shift in regulatory stance, PwC is expanding both its auditing and consulting businesses to work with crypto-related clients. Griggs added that the firm has been pitching clients on how they can utilize crypto, such as stablecoins, to enhance payment system efficiency.
In addition to that, the company has also improved its internal crypto expertise. It has rehired Cheryl Lesnik, who specialized in managing digital asset clients in the past three years, as a partner.
According to Griggs, PwC has bolstered its resource pool inside and outside to enable it to fully enter the digital assets space.
