Treasury launches task force to prepare financial sector for quantum cyber threats
Mehmet Eser/Anadolu via Getty Images
ByDavid DiMolfetta,
Cybersecurity Reporter, Nextgov/FCW
August 24, 2026 03:58 PM ET
The public-private task force will focus on moving financial institutions to quantum-resistant technology and addressing risks created by vendors and digital assets.
The Treasury Department announced a new effort Monday to help the financial sector replace widely used cryptographic tools that could eventually be broken by quantum computers.
The Quantum-Readiness Task Force will bring together government officials, financial institutions, market infrastructure operators and technology providers to coordinate the shift to post-quantum cryptography. Those protections are designed to withstand attacks from both conventional computers and future, more powerful quantum systems.
Financial institutions are widely considered high-value targets for hackers because they hold vast amounts of money and sensitive data and operate payment systems whose disruption can ripple across the economy.
A sufficiently advanced quantum computer could break many of...
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