US Treasury launches Quantum-Readiness Task Force for digital assets
The US Treasury has launched its Quantum-Readiness Task Force, focusing on digital assets and emerging-technology risks. This initiative aims to prepare the financial sector for threats posed by quantum computing. Treasury Secretary Scott Bessent emphasized the need for America to secure technologies that support the economy, ensuring the financial system remains strong and competitive. The Task Force will facilitate collaboration among government agencies, financial institutions, and technology providers to address cryptographic vulnerabilities as quantum computers advance. Although no migration deadline was set for Bitcoin, Ethereum, or other digital assets, the initiative follows President Trump's executive order mandating federal systems to adopt post-quantum cryptography by specified dates. Approximately 7 million Bitcoin are considered vulnerable due to exposed public keys. In response, Coinbase's quantum advisory council has urged blockchain developers to prepare for potential quantum threats. Additionally, the Bitcoin Security Consortium, formed by several institutions, pledged 15 million dollars over three years for Bitcoin security research, prioritizing post-quantum cryptography. The Treasury's actions extend beyond industry initiatives, integrating digital assets into a federal framework for quantum-safe finance.
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