In the financial technology sector, active discussions are underway to prepare the market for the advent of super quantum computers and theoretical attacks. Bitcoin and digital assets have long been part of this discussion, and the new Treasury Department working group will address not only traditional finance (TradFi) but also "risks associated with digital assets and new technologies."
The Treasury Department directly references President Trump's Executive Order No. 14412, and the press release states that the new working group is intended to facilitate the implementation of this order, which introduces measures to "strengthen the cryptographic protection of sensitive data, critical infrastructure, and the digital economy of the United States." The federal agency reported that the working group will collaborate with a large number of officials, traditional financial sector (TradFi) institutions, public and private sector leaders, as well as technology providers.
"The United States must play a leading role in ensuring the security of the technologies underlying our economy," Treasury Secretary Bessent explained in the press release. "This working group will help ensure that our financial system remains strong, secure, and competitive as new technologies reshape the global landscape."
Moody’s Agrees: Quantum Technology Readiness Must Become a Priority
In a note provided to Bitcoin.com News, Cristiano Ventricelli, Vice President of the Digital Economy Group at the rating agency Moody’s, emphasized that the U.S. needs to prepare its financial system for the future of quantum computing.
"The Quantum-Readiness Task Force adds a security dimension to the U.S. digital asset agenda, which includes White House, Securities and Exchange Commission (SEC), and Commodity Futures Trading Commission (CFTC) initiatives to support their use on regulated financial markets," wrote Ventricelli.
The Moody’s Ratings head added:
"Digital assets are increasingly viewed as strategically important for U.S. financial innovation and competitiveness; however, advances in quantum computing could ultimately weaken the cryptographic protections on which they are based. A sufficiently powerful quantum computer could compromise transaction authorization, asset ownership rights, and storage mechanisms, potentially undermining market confidence."
Quantum-Readiness: From a Future Threat to a Present Risk
Ventricelli's note states that directly addressing this issue within the working group "is essential for the credibility of U.S. efforts to expand digital asset markets." In the Treasury Department's statement, Deborah Guild, Chair of the Financial Services Sector Coordinating Council and Head of Technology at PNC Financial Services Group, Inc., expressed a similar viewpoint.
Guild stated that quantum-readiness (PQC) is no longer a measure needed for future preparation and insists that "it is a risk control in the present."
