SEC Chair Atkins leaves door open to seizing Venezuela’s alleged Bitcoin hoard

U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins acknowledged Monday that the possibility of the U.S. government seizing a purportedly massive Bitcoin reserve allegedly tied to Venezuela remains uncertain, signaling openness to action but stopping short of commitment.

In an interview, Atkins said he could neither confirm nor rule out whether authorities would pursue the confiscation of an estimated 600,000 Bitcoin (worth roughly $56 billion to $67 billion at current market prices) reportedly tied to the Venezuelan government. However, he stressed that decisions on asset seizure didn’t fall primarily within the SEC’s remit and would be handled by other parts of the U.S. administration.

“It remains to be seen,” Atkins said when asked if Washington might move to take control of the cryptocurrency.

The alleged Bitcoin holdings first surfaced in crypto circles and media following heightened U.S. pressure on Venezuela’s government, including recent military actions and the capture of President Nicolás Maduro.

Atkins points out the uncertainty surrounding the fate of Venezuela’s BTC holdings

As debates concerning Atkins’ statement continued to heat up, the SEC chair acknowledged that it still remained uncertain which move the United States officials might take regarding the 600,000 BTC reported in the event, given the possibility of seizing them.

This statement prompted several reporters to reach out to Atkins seeking answers on whether these officials would confiscate the cryptocurrency from the nation. Respondingly, he stated that, “I leave that to others in the administration to deal with — I’m not involved in that.”

Notably, this news concerning the BTC holdings in Venezuela began hitting headlines after reports revealed that the U.S. military captured Nicolás Maduro, the president of Venezuela, on 3 January 2026 and took him to the United States, particularly in New York, to be prosecuted under Donald Trump’s orders.

Following this announcement, blockchain analysts and intelligence platforms released a statement declaring that the alleged $60 billion in BTC is still pending verification. Despite this remark, sources noted that the Maduro government had previously been involved in the crypto ecosystem. To support this claim, they highlighted the South American nation’s introduction of the Petro, an oil-backed digital currency in 2018.

Meanwhile, it is worth noting that the SEC chair shared his opinion on the U.S. military’s decision to dismiss the president of Venezuela from his position and detain him shortly before the U.S. Senate Banking Committee disclosed its intentions to review “CLARITY”, the Digital Asset Market Clarity Act of 2025 (the CLARITY Act).

Democrats advocate straightforward guidelines on decentralized finance

The CLARITY Act had been under review by the Senate for several months. This bill received approval from lawmakers in the House of Representatives in July after several considerations. The slowdown has been attributed to the recently held government shutdown, which began on October 1st and concluded on November 12th, spanning a total of 43 days.

Nonetheless, reports mentioned that some banks and crypto firms have pointed out issues with parts of the draft bill related to stablecoin rewards. On the other hand, sources claimed that the approval process took place at a time when several Democrats were advocating for improved ethics regulation and clear guidelines on decentralized finance. 

Analysts also commented on the situation. They noted the possibility of the bill being postponed due to the likelihood of another government shutdown at the end of January and the upcoming 2026 midterm election campaigns.

Following this concern, reports noted that early versions of the legislation demonstrated that lawmakers attempted to enhance the capability of the Commodity Futures Trading Commission so that it could improve its oversight of digital assets.

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