OOBOOBIT Price

On August 25, the U.S. Treasury announced the establishment of the 'Quantum Security Preparedness Task Force' to lead the transition of the financial industry to quantum-resistant cryptographic technologies, enhancing the security of sensitive data, critical infrastructure, and the digital economy. Treasury Secretary Janet Yellen stated that the U.S. must be at the forefront of technological security measures, and this task force will ensure that the financial system remains secure, stable, and competitive amid new technological challenges. The task force brings together various stakeholders, including government agencies, financial institutions, and technology providers, focusing on three main tasks: facilitating the financial sector's transition to post-quantum cryptography, improving third-party supply chain security preparedness, and assessing the risks posed by digital assets and emerging technologies. The U.S. Treasury noted that once quantum computing matures, it will have the capability to break current encryption systems, posing long-term threats to financial data, payment systems, digital identities, and market infrastructure. Therefore, the early deployment of post-quantum cryptographic technologies is a crucial step in maintaining economic security and the resilience of the financial system.

On August 25, the U.S. Department of the Treasury announced the establishment of the 'Quantum Security Preparedness Task Force,' aimed at leading the financial industry’s transition to quantum-resistant cryptographic technologies to enhance the security of sensitive data, critical infrastructure, and the digital economy. Treasury Secretary Janet Yellen stated that the U.S. must be at the forefront of technological security measures, and this task force will ensure that the financial system remains secure, stable, and competitive amid new technological challenges. The task force brings together various stakeholders, including government agencies, financial institutions, and technology providers, focusing on three main tasks: facilitating the migration to post-quantum cryptography in the financial sector, improving third-party supply chain security preparedness, and assessing the risks posed by digital assets and emerging technologies. The U.S. Treasury noted that once quantum computing matures, it will have the capability to break current encryption systems, posing long-term threats to financial data, payment systems, digital identities, and market infrastructure. Therefore, early deployment of post-quantum cryptographic technologies is a crucial step in maintaining economic security and the resilience of the financial system.

On August 25, U.S. Treasury Secretary Becerra did not provide further signals regarding U.S. debt operations at the 'Economic D-Day' press conference. Previously, due to the 30-year U.S. Treasury yield reaching its highest point since 2007, Becerra unexpectedly announced an expansion of the long-term Treasury buyback program. According to the plan, from September 9 to November 4, the minimum amount for each buyback will increase from $2 billion to $4 billion. When asked if the buyback would be further expanded, Becerra responded, 'We haven't bought a single bond yet; the next operation will wait until September 9.' Just recently, he hinted that the buyback scale might exceed the newly set lower limit, but this statement was noticeably more restrained. Analysts pointed out that Treasury buybacks are essentially a routine and predictable debt management tool, not an emergency measure to address market pressures. Previously, Becerra claimed to have 'a full set of tools' to stabilize the bond market, leading to speculation that the Treasury might reduce the issuance of long-term Treasuries. Regarding whether there would be a reduction in long-term bond auction sizes, Becerra stated that the Treasury would 'proceed according to the regular issuance plan' and suggested that specific arrangements would be revealed in the next quarter's refinancing announcement.