'Big 4' Auditor PwC's Luxembourg Office to Accept Crypto Payments

"Big Four" auditing firm PwC's Luxembourg branch will accept cryptocurrency payments from clients starting next month.

The move, announced Monday, is a response to client demand and demonstrates PwC Luxembourg's belief in blockchain technology’s “medium to long-term” role in the economy, the firm said.

PwC Luxembourg said it partnered with a local exchange to facilitate the payments. It did not identify the exchange or say which coins it will accept.

Taking crypto may help PwC serve its blockchain clients, by providing day-to-day insight into “AML/KYC-enhanced due diligence… public/private keys… and risks of custodial solutions,” said the Luxembourg office's director of blockchain and crypto-assets, Thomas Campione, in a statement.

PwC has been working with cryptocurrencies since 2014. Four hundred of its 250,000 worldwide employees work on “crypto-topics,” supported by a 100-member technical team devoted to blockchain.

The firm’s Hong Kong office accepted a bitcoin payment in 2017 for work related to cryptocurrency auditing.

In June, the firm announced the Halo data auditing suite, which monitors cryptocurrency transactions for a number of institutional clients.

PwC image via Pres Panayotov / Shutterstock