PwC’s Hong Kong branch became the latest Big Four firm to take bitcoin payments for its advisory services, reported South China Morning Post last month. The accounting giant did not state whether its Hong Kong branch will be the only one accepting bitcoin payments, but said that its clients in the crypto space, including those involved in token sales, crypto-exchanges and crypto-fund launches, may offer bitcoin or other liquid and established cryptocurrencies such as Ethereum as payment.
“Bitcoin and other established currencies have now developed into more broadly accepted forms of settlement,” and “accepting such payments will evolve into an element of doing business in the normal course” as PwC continues its work with companies in the digital asset and cryptocurrency industry, Raymund Chao, Chairman of PwC Asia-Pacific and a Hong Kong Institute of CPAs member, said in a statement.
The announcement came in late November amid the rise in the virtual currency’s value to over US$11,000. PwC is the second Big Four firm to accept bitcoin payments following EY Switzerland in January.