PwC Ends Crypto Cold War; “Has To Be In” Ecosystem Following Trump Policy Shift
PwC US Leader Paul Griggs cites the Trump administration’s GENIUS Act as the key driver for the firm’s aggressive expansion into stablecoins and digital asset auditing.
One of the world’s largest professional services networks has officially capitulated to the crypto market.
After years of maintaining a “cautious” distance from digital assets, PwC is aggressively expanding its crypto practice, driven by the regulatory clarity provided by the Trump administration. Paul Griggs, PwC’s US leader, confirmed the strategic pivot in an interview with the Financial Times, stating explicitly that the firm “has to be in that ecosystem.”
The “Genius” Catalyst
The reversal isn’t random. It is a direct response to the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, signed into law by President Trump in July 2025. The legislation, which mandates 1:1 reserve backing for payment stablecoins and establishes federal oversight, effectively removed the reputational radiation that previously terrified Big Four auditors.
The Genius Act and the regulatory rulemaking around stablecoin I expect will create more conviction around leaning into that product and that asset class.
Griggs’ comments signal that the era of “regulation by enforcement” is over. For PwC’s Fortune 500 clientele, the green light is no longer theoretical. The firm is now actively hiring partners with specialized blockchain expertise to capture a stablecoin market that has swelled to $317 billion.
Infrastructure, Not Speculation
PwC’s re-entry focuses on the plumbing of global finance rather than retail trading. The firm sees stablecoins evolving from trading chips into core payment infrastructure. With major banks now legally permitted to issue their own digital tokens under the GENIUS framework, the demand for audit and compliance work is projected to verticalize.
The market response has been muted but firm, typical of institutional rather than retail news. Bitcoin (BTC) held steady at $92,500 (+1.3%), consolidating gains as the narrative shifts from “number go up” to “institutional integration.”
This is the final seal of legitimacy. When an auditor with $50 billion in revenue decides the sector is safe enough to touch, the “reputational risk” argument for corporate boards effectively dies.
