Could a Quantum Computer Break Bitcoin? The SEC has Now Taken the Threat Seriously
- SEC reviews proposal to quantum-proof Bitcoin, Ethereum, and other digital assets.
- PQFIF urges phased migration to post-quantum cryptography with global coordination.
- Forecasts warn Q-Day could hit by 2028 as global quantum race accelerates.
The U.S. Securities and Exchange Commission’s (SEC) Crypto Assets Task Force is now formally reviewing a proposal to safeguard the entire digital asset market from the growing threat of quantum computing.
The framework warns that trillions of dollars in assets like Bitcoin and Ethereum are at risk from a future quantum attack, a day that some experts believe could arrive as early as 2028.
The “Quantum Threat” to Crypto
The proposal, titled the Post-Quantum Financial Infrastructure Framework (PQFIF), calls for urgent regulatory and structural action to prevent potential systemic risks.
What is “Q-Day”?
“Q-Day” is the hypothetical day when a cryptographically relevant quantum computer (CRQC) becomes powerful enough to break the encryption standards that secure blockchains like Bitcoin and Ethereum. Some forecasts predict this could happen as early as 2028.
What is the “Harvest Now, Decrypt Later” attack?
…The post Could a Quantum Computer Break Bitcoin? The SEC has Now Taken the Threat Seriously appeared first on Coin Edition.
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Could a Quantum Computer Break Bitcoin? The SEC has Now Taken the Threat Seriously
- SEC reviews proposal to quantum-proof Bitcoin, Ethereum, and other digital assets.
- PQFIF urges phased migration to post-quantum cryptography with global coordination.
- Forecasts warn Q-Day could hit by 2028 as global quantum race accelerates.
The U.S. Securities and Exchange Commission’s (SEC) Crypto Assets Task Force is now formally reviewing a proposal to safeguard the entire digital asset market from the growing threat of quantum computing.
The framework warns that trillions of dollars in assets like Bitcoin and Ethereum are at risk from a future quantum attack, a day that some experts believe could arrive as early as 2028.
The “Quantum Threat” to Crypto
The proposal, titled the Post-Quantum Financial Infrastructure Framework (PQFIF), calls for urgent regulatory and structural action to prevent potential systemic risks.
What is “Q-Day”?
“Q-Day” is the hypothetical day when a cryptographically relevant quantum computer (CRQC) becomes powerful enough to break the encryption standards that secure blockchains like Bitcoin and Ethereum. Some forecasts predict this could happen as early as 2028.
What is the “Harvest Now, Decrypt Later” attack?
…The post Could a Quantum Computer Break Bitcoin? The SEC has Now Taken the Threat Seriously appeared first on Coin Edition.
Read More