PwC’s Luxembourg Branch to Accept Cryptocurrency Payments

“Big Four” auditing company PwC’s Luxembourg department will acknowledge cryptocurrency payments from clients beginning next month.

The move, revealed September 2, is a response to client request and demonstrates PwC Luxembourg’s belief in blockchain technology’s “medium to long-term” part in the economy, the company said.

PwC Luxembourg stated it collaborated with a local exchange to facilitate the payments. It did not disclose the exchange or say which coins it’ll accept.

Accepting crypto may help PwC serve its blockchain customers by giving day-to-day insight into “AML/KYC-enhanced due diligence… public/private keys… and risks of custodial solutions,” said Thomas Campione, chief of blockchain and crypto-assets at Luxembourg office.

PwC has been dealing with cryptocurrencies since 2014. Four hundred of its 250,000 global employees work on “crypto-topics,” backed by a 100-member technical group committed to blockchain.

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

In June, the firm revealed the Halo data auditing suite, which screens cryptocurrency transactions for a few institutional clients.