Key highlights:
- SEC Chair Paul Atkins said he would not rule out action on alleged Venezuelan Bitcoin holdings.
- Claims that Venezuela holds $60 billion in Bitcoin remain unverified by blockchain analysts.
- The comments came as US lawmakers prepare to debate a major crypto regulation bill.
U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins did not rule out the possibility of seizing Bitcoin allegedly linked to Venezuela after reports surfaced about political upheaval in the country.
In an interview with Fox Business, Atkins said it would soon become clear whether U.S. authorities would take action involving cryptocurrencies.
He added that decisions about asset seizures would fall to other officials, not the SEC directly.
The mystery of Venezuela’s Bitcoin
Venezuela is rumored to hold up to $60 billion worth of Bitcoin, roughly 600,000 BTC, but blockchain analysts say they have not been able to verify these claims.
Atkins said decisions about any possible seizure would be handled by other officials, adding that he is not personally involved in that process.
Reports about Venezuela’s possible crypto reserves gained attention after claims that U.S. forces arrested President Nicolas Maduro and transferred him to the United States to face criminal charges. These reports remain disputed, and no official confirmation has been released.
At the time of publication, blockchain intelligence platforms had not identified wallets that could be confidently linked to the Venezuelan government. This lack of on-chain evidence makes it difficult to confirm whether the country actually holds large crypto reserves.
Still, Venezuela has a history of experimenting with digital assets. In 2018, the government launched an oil-backed digital currency, showing early interest in alternative financial systems.
If Venezuela did hold hundreds of thousands of Bitcoin, analysts say it would likely be visible through large wallet clusters or known custody structures. So far, no such clear pattern has appeared.
This uncertainty has fueled speculation, but also skepticism, across both political and crypto circles.
Lawmakers prepare to debate new crypto rules
Atkins gave his comments just days before the Senate Banking Committee is set to debate the Digital Asset Market Clarity Act, also known as CLARITY. The House passed the bill in July, and it has since been under review in the Senate.
Progress slowed during a 43-day government crisis in October and November. Banks and some crypto firms have raised concerns about provisions related to stablecoin rewards. Democrats are also pushing for stronger protections and clearer rules around decentralized finance.
The bill could face more delays due to the 2026 midterm election cycle and the risk of another government shutdown at the end of January. Early drafts of the bill suggest lawmakers want to expand the authority of the Commodity Futures Trading Commission over digital assets.
As political pressure, regulation, and global tensions intersect, Bitcoin is increasingly becoming part of geopolitical conversations, not just financial ones.
Source: https://coincodex.com/article/80031/sec-chairman-says-us-may-confiscate-venezuelas-bitcoin/
