PwC is significantly expanding its involvement in the cryptocurrency sector following years of measured caution. This strategic pivot comes as the U.S. regulatory landscape becomes more supportive of digital assets, particularly with the enactment of new legislation governing stablecoins. Paul Griggs, PwC’s U.S. senior partner and chief executive, highlighted the firm’s intent to actively engage in crypto-related services.
In remarks to the FT, he emphasized that recent developments have built greater confidence in the industry.
Specifically, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act—signed into law by President Donald Trump in July 2025—provides a comprehensive federal framework for stablecoins.
This law mandates one-to-one backing with high-quality assets, strict reserve requirements, regular audits, and enhanced transparency, marking the first clear regulatory structure for dollar-pegged digital tokens.
“The GENIUS Act and ongoing rulemaking for stablecoins will foster stronger assurance in this asset class,” Griggs noted, adding that the tokenization of real-world assets is poised for continued growth.
He stressed that PwC must participate fully in this evolving space to serve clients effectively.
Previously, PwC and other major firms maintained distance from cryptocurrency due to heightened regulatory scrutiny and enforcement actions against various crypto entities (quite unreasonably under the previous Biden Administration).
These measures created uncertainty, complicating risk assessments and compliance for service providers.
However, the post-reelection appointment of pro-crypto regulators and the passage of the GENIUS Act have transformed the environment, encouraging institutional adoption.
PwC is now positioning itself to be “hyper-engaged” in both auditing and consulting for crypto clients.
The firm is advising companies on leveraging stablecoins to streamline payments and improve efficiency, while also expanding expertise in tokenization trends that could reshape capital markets.
Recent hires, including specialists in digital assets, underscore this ongoing commitment.
This move reflects broader institutional momentum toward cryptocurrencies.
With stablecoins gaining traction as reliable tools for transactions and the regulatory fog lifting, traditional finance firms like PwC see substantial opportunities.
As Griggs put it, the firm is equipping itself to deliver comprehensive services across audit, tax, and advisory in the crypto domain.
The shift signals a maturing crypto market, where clearer rules are bridging the gap between digital assets and established financial systems.
For PwC, embracing this ecosystem is not just opportunistic—it’s essential for staying relevant in a changing web3 and crypto industry.