PwC, among the world’s “Big Four” auditing and accountancy company, has accepted its first ever bitcoin payment. The particular announcement happens the week in which the digital currency hit through the US$11,000 mark.
This isn’t certain whether Hong Kong is the only office in the PwC global network of offices which allows bitcoin as payment. The company announced that aside from bitcoin, it will also accept some other liquid, and established cryptocurrencies, particularly coming from customers it advises in the wider crypto space.
From the report of The Wall Street Journal, the company’s Hong Kong office said that it has accepted the payment in connection to work with local firms concentrating in cryptocurrencies as well as blockchain technology.
Detailing that the step shows the way PwC is “embracing new technology” last thursday, Raymund Chao, Chairman of PwC Asia-Pacific said:
“It is also an indication that bitcoin and other established cryptocurrencies have now developed into more broadly accepted forms of settlement.”
A young mover in its sector, PwC has got a history with cryptocurrencies and blockchain technology heading back 2014.
In the statement:
“As the firm works increasingly with companies in the digital asset and cryptocurrency space, it believes that accepting such payments will evolve into an element of doing business in the normal course.”
From early reports on bitcoin’s function in bringing development in several industries, the firm has moved into performing research and providing its very own consultancy services regarding the technology.
International regulators have different positions towards virtual currencies. They vary from a total ban in China and South Korea to some more regulated approach from the Hong Kong securities regulator, that will control any kind of token sale in the initial coin offering with features comparable to “securities” based on the securities law.