PwC Drops Guard On Crypto After US Digital Asset Rule Changes
Big Four accounting agency PwC has reversed its cautious stance on crypto after regulatory developments associated to the house within the United States.
PwC Has Softened Its Stance On Crypto
According to a report from the Financial Times, PwC has modified its technique round digital belongings following the brand new legal guidelines handed by Donald Trump’s administration. PricewaterhouseCoopers, PwC briefly, is a multinational skilled companies community headquartered in London. It offers companies reminiscent of audits, tax planning, and enterprise consulting to corporations worldwide.
PwC is the second-largest agency of its variety and a part of the Big Four accounting corporations. Previously, the British firm steered away from crypto-related work within the US like different Big Four corporations, however evidently stance has now modified. The shift has come because the US has made developments in its crypto regulatory framework. Among the brand new legal guidelines is the Genius Act, which regulates stablecoins, digital belongings pegged to a fiat forex just like the US Dollar (USD).
“The Genius Act and the regulatory rulemaking round stablecoin, I anticipate, will create extra conviction round leaning into that product and that asset class,” stated Paul Griggs, senior associate at PwC US, in an interview with FT.
Griggs added that PwC has been pitching corporations on how they’ll use digital asset expertise, with stablecoins as a method of enhancing cost programs’ effectivity, cited as one instance.
PwC and different Big Four corporations budging on crypto showcases the legislative momentum that the business has had lately, with conventional finance more and more unable to disregard the sector. Stablecoins, specifically, have been witnessing rising adoption. Beyond the American Genius Act, this class of digital belongings additionally attracted regulatory consideration in different components of the world.
Hong Kong launched a stablecoin issuer licensing framework final yr, whereas Japan noticed the launch of its first yen-based token. In Europe, main banks have come together to work on a euro-pegged coin, aiming to problem the sector’s USD dominance. The constructive regulation in 2025 meant that the house witnessed some sharp development, with the market cap exploring new information, as information from DefiLlama reveals.
The sector hasn’t been unaffected by the broader slowdown in crypto since October, nonetheless. From the above chart, it’s seen that the stablecoin market cap has seen consolidation in the previous couple of months.
Nonetheless, whereas different components of the market have shrunken, these fiat-tied tokens nonetheless have their mixed market cap sitting at $307 billion at present, which may be very near the all-time high (ATH).
Bitcoin Price
At the time of writing, Bitcoin is buying and selling round $92,900, up almost 6% during the last week.
