Genius Act and New Regulations Take Effect! The Big Four Accounting Firms, PwC, Enter the Market, Expanding Stablecoin and Digital Asset Services

PricewaterhouseCoopers (PwC) fully enters the crypto ecosystem following the passage of the “GENIUS Act,” expanding into stablecoins, tokenization, and auditing services, symbolizing mainstream finance’s official embrace of digital assets.

Regulatory breakthroughs serve as catalysts; PwC announces full entry into the crypto ecosystem

As the U.S. cryptocurrency regulatory environment enters a historic transformation, one of the Big Four accounting firms, PricewaterhouseCoopers (PwC), officially announces a significant expansion of its digital asset and stablecoin businesses.

Recently, Paul Griggs, Senior Partner and CEO of PwC US, told the Financial Times that with the passage of the “GENIUS Act” and the rollout of new SEC regulations, the digital asset industry now has a clear framework for institutional development.

Griggs stated that this shift prompted PwC to move from a stance of “keeping distance” to “full engagement,” aiming to assist clients in exploring markets within stablecoins, asset tokenization, and blockchain payments through auditing and consulting services.

Image source: PwC PwC US Senior Partner and CEO Paul Griggs

This strategic shift signifies a major change in the attitude of mainstream financial service institutions toward cryptocurrencies. Over the past few years, due to opaque regulation and several high-profile enforcement actions, the Big Four accounting firms have generally taken a cautious approach to directly serving crypto clients, making it difficult to establish repeatable compliance processes.

However, after President Trump returned to the White House, U.S. regulators’ tone shifted significantly toward crypto-friendliness, especially with the establishment of stablecoin regulations, providing companies with confidence to scale digital asset adoption. PwC is actively demonstrating to clients how stablecoins can improve payment system efficiency, particularly in programmable settlement and cross-border transfers, which has become a core concern for banks and fintech companies.

Deepening audit and consulting industries, committed to solving stablecoin and tokenization challenges

To implement its increased focus, PwC is strengthening its internal pool of professional talent and technical resources.

Griggs revealed that over the past 10 to 12 months, PwC has significantly enhanced its capabilities in the digital asset industry through internal training and external recruitment.

Specific measures include re-hiring Cheryl Lesnik, a partner with three years of experience managing digital asset clients, highlighting the firm’s urgency to acquire industry expertise. PwC’s goal is to offer comprehensive “full-spectrum” crypto services, including accounting standards development, cybersecurity, wallet management, and regulatory compliance consulting, ensuring enterprises have a solid infrastructure and legal protections when entering the blockchain ecosystem.

In addition to consulting, PwC is also expanding into the crypto auditing market. Currently, the firm provides auditing services for Bitcoin mining giant MARA Holdings and is seeking more audit mandates within the industry.

Griggs emphasized that “tokenization” of assets will continue to evolve, and PwC must become an essential part of this ecosystem. By providing proof of reserves audits for stablecoin issuers and strategic guidance for traditional financial institutions entering DeFi, PwC aims to build a trust bridge between the digital asset market and traditional capital markets.

Big Four accounting firms compete as crypto assets reach mainstream tipping point

PwC’s expansion is not an isolated case; the Big Four accounting firms worldwide have now fully deployed in the crypto industry, engaging in fierce market share battles.

• KPMG states that the adoption of digital assets has reached its “tipping point” by 2025 and actively offers risk management and compliance advice.
• Deloitte released its first “Digital Asset Accounting Roadmap” in May last year and established strategic alliances with blockchain technology companies like Ava Labs and Chainalysis, focusing on smart contracts and on-chain analysis.
• EY (Ernst & Young) is deeply involved in tax support and strategic planning for crypto assets, seeking niche opportunities within the complex tax environment of digital assets.

Data shows that PwC’s global annual revenue reached $56.9 billion as of October, with strong financial resources enabling large-scale R&D and talent investments. The collective entry of the Big Four not only alleviates the past difficulties crypto companies faced in accessing top-tier professional services but also sends a clear compliance signal to traditional corporate institutions.

As these organizations view cryptocurrencies as a standard asset class, related accounting standards and audit processes are accelerating toward standardization.

Griggs pointed out that PwC will not enter an industry that is not yet ready for delivery, and current regulatory developments have convinced the firm that digital assets are now mature enough for large-scale advancement in both auditing and consulting.

From cautious observation to active participation, reshaping the digital foundation of mainstream finance

Looking back over the past few years, PwC had experimented with small-scale projects like Bitcoin payments in Hong Kong and Luxembourg, but only today has it truly regarded digital assets as a core strategy for the entire U.S. and global markets. Behind this shift is the legal certainty brought by the “GENIUS Act.”

This legislation establishes clear reserve requirements and entry thresholds for stablecoin issuers, fundamentally addressing the transparency concerns that auditors have when assessing the risks of such clients.

As SEC’s new leadership adopts more constructive rule-making strategies, companies no longer need to worry about sudden enforcement crackdowns when adopting blockchain technology. This allows PwC to confidently associate its brand reputation with the digital asset industry.

Looking ahead, PwC expects digital assets to be integrated not only into speculation or trading but also deeply into daily payment and settlement processes. Through close cooperation with governments, central banks, and legislative bodies, PwC is helping shape the future blueprint of digital finance.

Griggs summarized that PwC must be present in this evolving ecosystem. With the full implementation of regulations by 2026, stablecoins and tokenized products will create new opportunities for auditing and consulting.

This is not only a growth point for PwC’s business but also a milestone in the U.S. effort to modernize the financial system and incorporate digital assets into mainstream capital markets. As competition among the Big Four intensifies, the digital asset industry will officially move away from “wild growth” toward a new era under high professional oversight.