SEC warns of quantum risks, proposes framework to protect digital assets from "Q-Day"

The U.S. Securities and Exchange Commission (SEC) is reviewing a proposed roadmap aimed at protecting Bitcoin, Ether, and digital assets from the threat of quantum computers. This proposal, titled “Post-Quantum Financial Infrastructure Framework” (PQFIF) presented by Daniel Bruno Corvelo Costa, warns that advances in quantum technology could undermine current encryption systems, putting trillions of dollars in assets at risk.

A dangerous strategy is outlined as “Harvest Now, Decrypt Later”, whereby current encrypted data could be collected for decryption later. The plan proposes to automatically assess vulnerabilities, prioritize the protection of organizational wallets and exchanges, and gradually transition to quantum-resistant encryption.

The NIST 2024 standards such as FIPS 203–205 and HQC are incorporated as a foundation. An urgent risk is “Q-Day”, the day quantum computers could break Bitcoin encryption – which could occur as early as 2028. At the same time, the community proposes a new BIP to remove old signatures to enhance protection against quantum attacks.