Paul Atkins, chair of the US Securities and Exchange Commission (SEC), didn’t rule out the possibility of authorities seizing Venezuela’s reported Bitcoin holdings after US forces unseated and captured the country’s president.
In a Monday interview with Fox Business’ Stuart Varney, Atkins responded to reports claiming that Venezuela holds up to $60 billion worth of Bitcoin (BTC), though several analysts said they were unable to verify these claims. The SEC chair said it “remains to be seen” what action, if any, the US would take if it had the opportunity to seize the reported 600,000 BTC.
“I leave that to others in the administration to deal with — I’m not involved in that,” said Atkins in response to a question on whether the US would “take those Bitcoin off ‘em.”
Reports of Venezuela’s Bitcoin holdings surfaced after US forces, at the direction of President Donald Trump, captured then-President Nicolás Maduro last week and removed him to the United States to face criminal charges in New York.
As of the time of publication, blockchain analysts and intelligence platforms had not confirmed the reported $60 billion in crypto, but the Maduro regime had previously been involved with aspects of the industry. For example, the country launched an oil-backed digital currency in 2018.
Senate to hold market structure markup on Thursday
Atkins’ remarks came a few days before the US Senate Banking Committee is scheduled to hold a markup on the Digital Asset Market Clarity Act, or CLARITY.
House of Representatives lawmakers passed the bill in July, and it has been under review in the Senate for months, likely slowed by a 43-day government shutdown in October and November.
Banks and some crypto companies have also expressed concerns about provisions dealing with stablecoin rewards within the draft bill, and many Democrats are reportedly calling for stronger ethics guardrails and clarification on decentralized finance.
The bill could be delayed amid campaigning for the 2026 midterm elections and another potential government shutdown at the end of January. However, early drafts of the legislation showed lawmakers were attempting to give the Commodity Futures Trading Commission more authority to regulate digital assets.