Paul Atkins, chairman of the US Securities and Exchange Commission (SEC), has not ruled out the possibility that authorities will seize Venezuela’s Bitcoin holdings after US forces overthrew and captured the country’s president.
In an interview Monday with Fox Business’ Stuart Varney, Atkins replied to reports claiming Venezuela holds up to $60 billion worth of Bitcoin (BTC), although several analysts have stated that they we could not verify these demands. The SEC chairman said it “remains to be seen” what action, if any, the United States would take if given the opportunity to seize the reported 600,000 BTC.
“I leave that to other people in the administration — I’m not involved in that,” Atkins said in response to a question about whether the United States would “take these Bitcoins away from them.”
Reports of Venezuela’s Bitcoin holdings surfaced after U.S. forces, under the leadership of President Donald Trump, captured then-President Nicolás Maduro last week and deported him to the United States to face criminal charges in New York.
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At the time of publication, blockchain analysts and intelligence platforms had not confirmed the reported $60 billion in crypto, but the Maduro regime had already been involved in some aspects of the industry. For example, the country launched an oil-backed digital currency in 2018.
The Senate will increase the market structure on Thursday
Atkins’ remarks came days before the U.S. Senate Banking Committee is expected to vote on the Digital Asset Market Clarity Act, or CLARITY.
Lawmakers in the House of Representatives passed the bill in July and it has been working its way through 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 the arrangements deal with stable rewards in the bill, and many Democrats would call for stronger ethical safeguards and clarifications on decentralized finance.
The bill could be delayed due to campaigning for the 2026 midterm elections and a potential new government shutdown in late January. However, early versions of the legislation showed lawmakers attempting to give the Commodity Futures Trading Commission more power to regulate digital assets.
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