PwC to deepen crypto engagement citing US regulatory shift: FT
PwC is increasing its engagement in the crypto sector due to a perceived pro-crypto shift among U.S. regulators.Summary
PwC, one of the Big Four accounting firms, is shifting from a non-committal stance to actively embracing cryptocurrency-related work, according to the Financial Times. PwC U.S. Senior Partner and CEO Paul Griggs cited the passage of the GENIUS stablecoin act and a broader pro-crypto regulatory environment in the U.S. as reasons for the firm to "lean in" to the ecosystem, including tokenization.
Previously, scrutiny and enforcement actions from authorities kept PwC at arm's length from the digital asset sector. Now, the firm is committed to being "hyper-engaged" in expanding its auditing and consulting services for crypto clients, focusing on areas like stablecoin efficiency for payments. PwC has also bolstered its internal expertise, rehiring a partner specializing in digital assets, and currently audits firms like bitcoin miner MARA Holdings.
This move by PwC signals wider acceptance of digital assets in mainstream finance, following similar steps by other Big Four firms like KPMG and Deloitte in offering crypto compliance and accounting services.
(Source：The Block)