EU Regulators Sound Alarm on Quantum Computing Threat to Blockchain Security

European financial regulators have sounded an alarm about the potential threat of quantum computing to the cryptographic systems that secure blockchain networks, including Bitcoin and Ethereum. The European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority identified quantum computing as a risk in their Autumn 2026 risk assessment.

According to Google's latest research, compromising 256-bit elliptic-curve cryptography could require around 1,200 logical qubits or under 500,000 physical qubits. This projection marks a significant downward revision from previous forecasts.

The development community behind Bitcoin has initiated conversations about network transition strategies to mitigate the risks associated with quantum computing. A draft specification, BIP-361, outlines a plan for eliminating current ECDSA and Schnorr signature schemes once post-quantum transaction formats become operational.