For years, the “Big Four” (PwC, Deloitte, EY and KPMG) viewed the cryptocurrency ecosystem with a mix of skepticism and caution. However, a change in United States laws is unleashing a race to dominate the stablecoin market, introducing the sector to the new board of global accounting.
The signs show that the landscape for PwC, Deloitte, EY and KPMG is changing dramatically. This is because what was previously seen as a high-risk territory and legal loopholes, Today it has become the new frontier of growth following the passage of the GENIUS Act in July 2025 by the United States.
This federal framework, which regulates stablecoins (cryptocurrencies linked to the value of the dollar) in the United States for the first time, is working as a trust switch. This is an open competition to lead auditing, consulting and asset tokenization.
For Paul Griggs, senior partner at PwC in the United States, regulatory clarity is the missing ingredient. “The regulations generate a much greater conviction to bet on this asset class,” he explained in a recent interview with the Financial Times. He added that the digitization of real assets or RWA (real world assets) is an inevitable evolution in which his firm must be present.
Griggs’ statement effectively represents a change of position at PwC (and, by extension, the Big Four), which until recently maintained a safe distance from cryptocurrency clients due to reputational risks, regulatory uncertainty, and enforcement actions by US regulators.
PwC, in fact, is currently one of the most aggressive firms in this new scenario, reinforcing its ranks with industry veterans like Cheryl Lesnik and taking on the audit of mining giants like Mara Holdings. However, she is not alone on this path.
Deloitte, KPMG and EY also work in the world of cryptocurrencies
Deloitte has taken the lead on transparency, auditing Coinbase for years and recently publishing a roadmap for what digital asset accounting should look like.
Meanwhile, KPMG identified the year 2025 as the definitive “tipping point,” focusing on risk management for companies that decide to make the leap into the world of cryptocurrencies.
KPMG highlights key areas of focus on its website financial services related to digital assets, positioning itself as a strategic partner for institutions that integrate cryptocurrencies into traditional operations.
The firm emphasizes due diligence between direct custody and sub-custody, along with a risk and controls framework that encompasses key generation and wallet management, among other elements. In addition, KPMG offers advice on the use of stablecoins as payment methods.
These are services that include design of custody solutions, control frameworks, development of KYC (know your customer) protocols, transaction monitoring, regulatory strategy and compliance preparation, adapted to the rapid evolution of the sector.
EY, for its part, is advising large corporations on the complex fiscal and strategic transition involved in integrating tokens into their balance sheets. The firm moved into the cryptocurrency sector after conducting a survey that revealed a strong push for stablecoin adoption among institutions financial and corporations
The study, which included more than 350 executives, shows that 13% of organizations already use stablecoins, while 54% of those that do not yet expect to adopt them in the next 12 months. The passage of the GENIUS Act is considered a turning point that provides regulatory clarity, reduces uncertainties, and accelerates investment and technological innovation.
In short, the entry of the «Big Four» is not only a commercial movement; It is the definitive sign that digital money is integrated into the machinery of the global economy.