The US Treasury Department establishes a quantum security readiness working group to promote the financial industry's quantum resistant transformation

The US Treasury Department has established a "Quantum Security Preparedness Working Group" to promote the transition of the financial industry to anti quantum cryptography technology. Treasury Secretary Besson stated that the United States must be at the forefront of technological security, and this working group will ensure that the financial system remains safe, stable, and competitive under the impact of new technologies. The working group focuses on promoting post quantum cryptography migration in the financial industry, improving third-party supply chain security preparations, and assessing the risks posed by digital assets and emerging technologies. The US Treasury Department has pointed out that once quantum computing matures in the future, it will have the ability to crack current encryption systems, posing threats to financial data, payment systems, digital identities, and market infrastructure.