PwC, one of the largest accounting firms, is expanding its involvement in the crypto sector, signaling a sharp turn from the cautious stance it maintained for years. The firm’s leadership says recent changes in U.S. policy have altered the risk calculus enough for major institutions to engage more openly with crypto-related work.
Paul Griggs, PwC’s U.S. senior partner and chief executive, stated that the firm is preparing to scale up its crypto services after seeing meaningful progress on regulation. According to Griggs, newly enacted legislation and clearer guidance from regulators have helped remove long-standing barriers.
A central moment in PwC’s decision came with the passage of the GENIUS Act in 2025. The law established a formal framework for stablecoins in the U.S. and opened the door for banks and large financial institutions to issue digital tokens, provided they meet regulatory requirements. For much of the past decade, a lack of consistency in oversight discouraged large firms from committing resources to crypto.
Regulatory tone has also shifted at key agencies, including the Securities and Exchange Commission. Industry observers note that recent leadership changes have brought a more pragmatic approach to crypto. The atmosphere of frequent enforcement actions appears to be easing, reducing fears around compliance risk and reputational damage that once loomed over crypto initiatives.
PwC’s plans extend beyond advising startups and blockchain-native firms. Griggs said the firm is expanding both its audit and consulting services related to digital assets. Areas of focus include blockchain infrastructure, tokenization, and stablecoins.
The firm already works with crypto-related clients such as MARA Holdings and is now promoting practical applications for stablecoins, including faster payment processing and improved corporate treasury management.
To support the expansion, PwC has been strengthening its internal expertise. The firm recently rehired Cheryl Lesnik as a partner, bringing back a specialist with extensive experience advising crypto clients. Griggs added that PwC has also invested in additional talent and resources, drawing from both internal teams and external hires to meet growing demand.
The firm’s move reflects a broader trend across the professional services industry. Other members of the Big Four are making similar bets on digital assets. KPMG has described 2025 as a turning point for crypto adoption, while Deloitte recently introduced its first crypto assets roadmap aimed at compliance and accounting challenges. EY has also continued to invest in blockchain and tokenization services.
Crypto industry actors like BitMine Immersion Technologies Inc. (NYSE American: BMNR) will most likely welcome the involvement of entities like PwC in crypto transactions as it would help to broaden the reach of the industry and attract funding into digital assets.
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