On July 5th, the National Institute of Standards and Technology (NIST) announced its results for the third round of the Post-Quantum Cryptography (PQC) standardization process.
Out of the four candidate algorithms for standardization, NIST recommended CRYSTALS-KYBER (key-establishment) and CRYSTALS-Dilithium (digital signatures) for most use cases. Furthermore, FALCON and SPHINCS+ (digital signature) will also be standardized.
On the other hand, Classic McElice, which is highly regarded as secure, was a finalist yet was not standardized by NIST in this round. There is a possibility this algorithm will be standardized at the end of the fourth round.
For more information on this topic, please see the NIST report and the detailed briefing of the candidates chosen.