US Securities and Exchange Commission Chairman Paul Atkins said today that it is still unclear whether the US government will take action to seize the widely discussed Bitcoin holdings rumored to be linked to Venezuela, an uncertainty that arises as Washington seeks to bring greater regulatory clarity to digital asset markets.
Atkins said fox business The issue of pursuing Venezuela’s so-called Bitcoin stash (estimated at approximately 600,000 BTC, or between $56 billion and $67 billion at current prices) is “yet to be seen” and is being handled by other parts of the administration.
“I let others deal with that. That’s not my focus,” Atkins said, stressing that the SEC is not currently prioritizing asset forfeiture.
Rumors in crypto and intelligence circles have pointed to a huge “shadow reserve” of Bitcoin allegedly accumulated by the Venezuelan government through gold sales, oil deals settled in stablecoins, and other transactions dating back to 2018.
If verified and under US control, such a reserve would rank among the largest holdings of Bitcoin globally.
But independent blockchain analysts point out that there is still no verifiable on-chain evidence linking wallets containing such amounts to the Venezuelan government, and publicly traceable addresses connected to state entities reflect only a small fraction of the rumored holdings.
Bitcoin and CLARITY Law Update
Atkins quickly moved on from the Venezuela issue to highlight ongoing legislative efforts in Congress aimed at clarifying the regulatory framework for digital assets.
“This week is important because the Senate is taking up a bipartisan bill that will bring clarity and certainty to the world of cryptocurrencies,” he said, referring to a measure designed to delineate oversight responsibilities between the SEC and the Commodity Futures Trading Commission (CFTC).
The bill, supported by members of both parties and expected to pass this week, represents the next step in positioning the United States as a global leader in digital asset markets, Atkins said.
He also cited the Genius Act, passed late last year, as the first statute to formally recognize cryptoassets under US law, and credited it with helping to bring regulatory clarity to stablecoin frameworks.
Atkins expressed optimism that with clearer rules, markets will gain much-needed certainty around products and oversight.
He highlighted continued collaboration with the new CFTC Chairman and reiterated the SEC’s commitment to enforcing future regulations once they are enacted.
While ethical questions surrounding public officials and cryptocurrency interests remain within the purview of Congress, Atkins said the immediate priority is a regulatory regime that reduces market ambiguity and supports investor confidence.
