PricewaterhouseCoopers (PwC) has decided to grow its cryptocurrency services following signs of clearer regulations in the United States.
Chief Executive Officer Paul Griggs said the decision came after new leadership at financial regulators and progress on laws covering stablecoins.
In an interview with the Financial Times, Griggs explained that changes at agencies such as the US Securities and Exchange Commission (SEC) and new legislation, such as the GENIUS Act, encouraged PwC to reenter the digital asset market.
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He said the developments were giving companies more confidence to explore stablecoins and other blockchain-based products.
PwC, one of the “Big Four” accounting and consulting firms, reported global revenues of $56.9 billion as of October. The company offers several crypto-related services, including accounting, cybersecurity, wallet management, and compliance and regulatory advice.
According to PwC, its clients include cryptocurrency exchanges, traditional banks looking to enter the market, and government agencies such as central banks and regulators.
Griggs said PwC has been expanding in the crypto industry for over a year. He said, “We are never going to lean into a business that we haven’t equipped ourselves to deliver”.
He noted that the firm’s crypto work covers both audit and consulting projects and that demand continues to grow.
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