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EU regulators warn quantum computing threatens blockchain security
European financial regulators have issued a formal warning regarding the systemic risks posed by quantum computing. The European Banking Authority, the European Securities and Markets Authority, and the European Insurance and Occupational Pensions Authority stated in a joint risk update that advanced quantum computers could undermine the cryptography securing blockchains, databases, and financial transactions.
Regulators cautioned that these threats might materialize before quantum technology reaches widespread commercial viability. A primary concern is the 'harvest now, decrypt later' strategy, where adversaries collect encrypted data today to decrypt it once powerful quantum hardware becomes available. This poses a specific risk to long-term sensitive financial information and certain blockchain assets, such as Bitcoin and Ethereum, which rely on vulnerable digital signatures.
In response, the EU NIS Cooperation Group has recommended that member states adopt post-quantum cryptography (PQC) migration strategies by the end of 2026. While technology leaders and standards bodies like NIST are moving toward quantum-resistant protocols, industry data suggests a significant gap in readiness; reports indicate that while most security leaders expect quantum advances to break current standards within a decade, a large majority of organizations lack formal post-quantum migration plans.
Entities
Bitcoin · Ethereum · European Banking Authority · European Insurance and Occupational Pensions Authority · European Securities and Markets Authority · Google · IBM · National Institute of Standards and Technology
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Research from Eigen Labs suggests the computational resources required for quantum attacks on Bitcoin and Ethereum signatures could be 50% lower than previously estimated. www.nadanews.com
- [○ 1 SOURCE] Only 7% of organizations have deployed quantum-safe certificates to date. www.itpro.com
- [○ 1 SOURCE] 85% of IT and security leaders believe quantum computing will break existing security standards within ten years. www.itpro.com
- [● 3 SOURCES] Threat actors may be using 'harvest now, decrypt later' strategies to store encrypted data for future quantum decryption. www.nadanews.com · coingape.com · news.bitcoin.com
- [● 4 SOURCES] Quantum computing could undermine cryptography used for communications, transactions, databases, and blockchains. blockchainreporter.net · www.nadanews.com · coingape.com · news.bitcoin.com
- [● 4 SOURCES] Quantum threats may materialize before the technology has any viable commercial use. blockchainreporter.net · www.nadanews.com · coingape.com · news.bitcoin.com
- [○ 1 SOURCE] 69% of organizations currently lack a plan for post-quantum cryptography. www.itpro.com
- [● 3 SOURCES] The EU NIS Cooperation Group recommended that member states adopt post-quantum migration strategies by the end of 2026. www.nadanews.com · coingape.com · news.bitcoin.com