- PwC entered crypto fully after US regulators shifted from enforcement to rule-based oversight.
- The GENIUS Act gave legal clarity for stablecoins, unlocking corporate use cases.
- Stablecoins, not Bitcoin, drove PwC’s pivot due to faster payments and lower costs.
PwC has decided to fully enter the crypto market after years of contemplation amid clear regulatory changes in the United States provided by the Donald Trump administration.
Trump has backed digital assets, appointed pro-crypto regulators, and passed new laws governing stablecoins and token activity.
For much of the last decade, PwC and other Big Four firms avoided crypto clients due to regulatory ambiguity and an enforcement-first approach.
That barrier was removed after Congress passed comprehensive digital asset legislation and federal agencies moved from sending Wells Notices to chopping down existing cases against crypto entities.
The GENIUS Act Unlocked Corporate Participation
The turning point for PwC was the passage of the GENIUS Act in July 2025. The law created the first federal framework for stablecoins in the US, setting rules for reserves, custody, disclosures, and redemptions.
Banks are now allowed to issue their own dollar-backed tokens, and corporations can use stablecoins within regulated boundaries.
At the same time, leadership changes at the Securities and Exchange Commission made engaging with digital assets easier for institutions.
With these protections in place, PwC began pitching clients on practical crypto use cases, particularly stablecoins for payments and treasury functions. The firm now treats crypto as a standard business line rather than a special-risk category.
Stablecoins, Not Bitcoin, Drove the Pivot
PwC’s decision was a result of increasing adoption of stablecoins rather than volatile assets like Bitcoin. Corporations are using dollar-pegged tokens to move funds faster across borders, reduce settlement times, and lower transaction costs compared to legacy banking rails.
Stablecoins are now used for supplier payments, internal transfers, and working capital management. With regulatory clarity, companies can hold and transact in these assets without fear of regulatory enforcement.
As per the FT report, PwC has already taken on crypto audit clients, including a major US-listed Bitcoin miner, and expanded advisory work tied to digital asset payments and reporting.
What changed in 2024 and 2025 was not technology, but political and regulatory certainty. With federal backing now explicit, the Big Four are competing for market share in crypto audits, payments advisory, token accounting, and regulatory compliance.
Related: Turkmenistan Adopts Crypto Under New 2026 Rules to Boost Economy
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