The Donald Trump administration has opened new opportunities for traditional financial institutions to embrace digital assets.
Among them is PwC, which is trying to “lean in” to cryptocurrency after taking a rather cautious approach for years, the firm’s U.S. senior partner and CEO, Paul Griggs, recently told Financial Times.
PricewaterhouseCoopers, or PwC, is a British multinational professional services network. It is counted among the world’s Big Four accounting firms, along with Deloitte, EY, and KPMG.
Related: GENIUS Act Passage Sets Foundation for Stablecoin Market to Reach $2 Trillion by 2028
Griggs, the firm’s U.S. boss, said the appointment of pro-crypto regulators and new crypto regulation in 2025 allowed PwC to make the pivot.
“The Genius Act and the regulatory rulemaking around stablecoin I expect will create more conviction around leaning into that product and that asset class.”
Trump signed the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act into law on July 18, 2025, to regulate stablecoins pegged to the U.S. dollar.
In simple words, a stablecoin is a type of cryptocurrency that attempts to stabilize its value, unlike traditionally volatile cryptocurrencies such as Bitcoin (BTC), by being pegged to a traditional fiat currency or a commodity.
As per the onchain analytics platform DeFiLlama, the total market capitalization of USD-pegged stablecoins has grown from $259 billion on July 18 to $307 billion at the time of writing.
The new Securities and Exchange Commission (SEC) chair Paul Atkins, appointed by Trump, seems to be turning the regulator from a body considered antagonistic to the digital assets industry under the previous administration into a pro-crypto body now.
The developments have allowed PwC to embrace crypto, an asset category it earlier shunned due to regulatory pressure.
“Whether we are doing work in the audit space or doing work in the consulting arena — we do all the above in crypto — we see more and more opportunities coming our way,” Griggs told FT.
The policy reversal regarding digital assets in the U.S. has compelled PwC to pitch clients on how they could use crypto technology, such as choosing stablecoins for payment settlements, he added.
