[EU's Three Major Financial Regulators Warn Quantum Computing May Threaten Blockchain Cryptographic Security] Odaily Planet Daily reports that the European Banking Authority (EBA), the European Insurance and Occupational Pensions Authority (EIOPA), and the European Securities and Markets Authority (ESMA) stated in a joint risk update that advancements in quantum computing could undermine the cryptographic systems that secure blockchain transactions, communications, and databases. In March, Google Quantum AI researchers estimated that the number of physical quantum bits required to break the cryptographic techniques used by many cryptocurrencies might be about 20 times fewer than previously estimated. Currently, no computers capable of executing such attacks exist. Bitcoin developer Jameson Lopp and others proposed in February to gradually phase out the current signature scheme and restrict the use of non-migrated funds five years after the proposal's activation. This proposal has not yet been adopted. The Ethereum Foundation plans to make Ethereum's execution, consensus, and data layers quantum-resistant by December 2029. (Cointelegraph)