EY officially enters the cryptocurrency field: starting with joining the Bitcoin Association

Ernst & Young (EY) Switzerland has announced that it has joined the Bitcoin Association Switzerland (BAS) and will officially support it.

In a statement released on Wednesday, BAS said EY’s decision demonstrates the global consulting giant’s firm commitment to entering the cryptocurrency space.

As the first of the Big Four auditing giants to enter the Bitcoin field, EY's next plan is to join the Bitcoin Association as a corporate member to support the development of the local Bitcoin community.

The association is a lobbying group that aims to increase public awareness of digital currencies and organize events related to Bitcoin and monetary decentralization.

Switzerland is rapidly transforming into a hub for cryptocurrency and blockchain activity, with Zug-based Crypto Valley Association the setting up of an organization that aims to encourage corporate involvement in crypto technology.

EY also announced last year that it would accept Bitcoin payments from its Swiss clients, and this week it joined Estonia's crypto banking project Polybius Cryptobank.

Martin Stalder, CEO of EY Switzerland, said:

Blockchain, smart contracts and digital currencies are about to revolutionize the business world, and it is important for us to get everyone on board and ready.