By: Fred Qiu and Christina Willis
On August 24, 2026, the U.S. Department of the Treasury announced the launch of a public-private Quantum-Readiness Task Force to accelerate the financial sector’s transition to quantum-safe technologies. The initiative implements Executive Order 14412 and builds on the G7 Cyber Expert Group roadmap for PQC transition. The Task Force will operate through three workstreams focused on sector-wide PQC transition, third-party and vendor readiness, and digital assets and emerging technology risk, with a focus on identifying critical dependencies, improving cryptographic agility, promoting interoperability, and strengthening operational resilience. The initiative represents a further step toward sector-specific implementation of federal PQC migration policy for financial institutions, financial market infrastructure, and technology providers.
On August 6, 2026, Senators Chris Coons (D-DE) and Mike Rounds (R-SD) introduced the bipartisan Quantum Grid Utility Assurance and Resilient Defense (Quantum-GUARD) Act, S. 5313. The bill would direct Federal Energy Regulatory Commission (FERC) to consider cybersecurity risks posed by quantum computers—and potential uses of Post Quantum Cryptography (PQC) to address those risks—when reviewing or modifying electric-grid reliability standards. It would also require DOE to establish a PQC sandbox, a program for innovation and development involving the use of PQC in information technology (IT) and operational technology (OT) applications for the electric grid, bringing together bulk-power system operators, IT and OT vendors, relevant federal agencies, and other stakeholders. DOE would additionally be required to study quantum cybersecurity risks to the bulk-power system, including obstacles to transitioning high-value IT and OT systems to PQC, and report to Congress within one year. The bill was referred to the Senate Committee on Energy and Natural Resources and has been endorsed by QED-C and other quantum-industry organizations.
On August 27, 2026, Rep. Nicholas Langworthy (R-NY) introduced the American Quantum Competitiveness Act, H.R. 10163. The bill would designate the Secretary of Commerce as the principal advisor to the President on policy concerning the commercial development of quantum technology, critical-component supply, and trusted quantum supply chains. It would also direct the Secretary to identify critical quantum components and assess, manage, and reduce risks associated with components supplied by covered nations. The bill would require Commerce to publish, within two years of enactment and every three years thereafter, a national strategy addressing U.S. commercial leadership in quantum technology and the establishment, maintenance, and resiliency of trusted quantum supply chains. The bill was referred to the House Committee on Energy and Commerce.
On July 31, 2026, the Federal Trade Commission published separate commissioner statements regarding its decision to grant early termination of its review of IonQ’s proposed $1.8 billion acquisition of SkyWater Technology. SkyWater is an advanced semiconductor foundry used by IonQ and several other companies developing quantum computers. Chairman Andrew Ferguson and Commissioner Mark Meador agreed that the transaction raised potential vertical foreclosure concerns, including possible restrictions on competitors’ access to SkyWater’s foundry services and competitively sensitive information, but differed on whether those concerns warranted a remedy. Ferguson favored a behavioral remedy, while Meador concluded that intervention was not justified by the evidence. Both agreed that seeking to enjoin the transaction would be an imprudent use of FTC resources, and the Commission granted early termination of its review.
On August 13, 2026, the European High Performance Computing Joint Undertaking (EuroHPC JU) launched six calls totaling €119 million to advance quantum technologies and supporting infrastructure in Europe. The calls cover large-scale trapped-ion, superconducting, and neutral-atom quantum computing platforms; next-generation Quantum Key Distribution (QKD) technologies, including hybrid QKD-PQC frameworks; pan-European quantum testing and certification infrastructure; and experimental manufacturing pilot lines bridging academic research and established pilot lines. The initiatives emphasize standardized interfaces, integration with European HPC infrastructure, testing and certification, and scalable manufacturing, and follow a recent expansion of EuroHPC JU’s mandate to include a dedicated pillar for advancing quantum technologies.
On August 28, 2026, the Government of Canada announced a C$195 million agreement with Xanadu Quantum Technologies through the Strategic Response Fund to support Project OPTIMISM. The funding supports Xanadu’s C$893 million project to expand its research and development facility and establish advanced manufacturing capabilities in Canada, including capabilities for integrating, packaging, testing, and assembling advanced photonic and semiconductor components used in quantum systems. A key focus is qualifying manufacturing processes compatible with future fault-tolerant quantum computing. The investment advances initiatives under Canada’s National Quantum Strategy and Defence Industrial Strategy aimed at strengthening domestic quantum capabilities, economic security, and sovereignty.