Venezuela Bitcoin Seizure: SEC Chair Says Decision Pending on $60 Billion Crypto

TLDR

• SEC Chair Paul Atkins said it “remains to be seen” if the US will seize Venezuela’s reported Bitcoin holdings
• Venezuela allegedly holds up to $60 billion in Bitcoin, though blockchain analysts cannot verify these claims
• Atkins stated decisions about potential seizure fall outside the SEC’s authority
• The Senate Banking Committee will hold a markup on the Digital Asset Market Clarity Act on Thursday
• House passed the CLARITY bill in July, but Senate review has been slow due to government shutdown and concerns over stablecoin provisions

SEC Chair Paul Atkins addressed questions about Venezuela’s reported Bitcoin holdings during a Monday interview with Fox Business. He said it “remains to be seen” what the US government might do regarding the alleged cryptocurrency assets.

Reports claim Venezuela holds up to $60 billion worth of Bitcoin, roughly 600,000 BTC. However, blockchain analysts have not been able to confirm these numbers. Several intelligence platforms also failed to verify the reported holdings.

The questions about Venezuela’s Bitcoin came after US forces captured then-President Nicolás Maduro last week. President Donald Trump directed the operation that removed Maduro from Venezuela. Maduro now faces criminal charges in New York.

The Maduro regime has been involved with cryptocurrency before. Venezuela launched an oil-backed digital currency in 2018. The country has also used crypto to try to avoid international sanctions.

Senate to Review Crypto Market Bill

Atkins spoke just days before the Senate Banking Committee plans to hold a markup session. The committee will review the Digital Asset Market Clarity Act, known as CLARITY.

The House of Representatives passed the CLARITY bill in July. The bill has been waiting for Senate action for months. A 43-day government shutdown from October to November slowed the process.

Banks and some crypto companies have raised concerns about parts of the bill. The draft includes provisions about stablecoin rewards. Many Democrats want stronger ethics rules and clearer language about decentralized finance.

The bill could face more delays. Lawmakers will soon start campaigning for the 2026 midterm elections. Another potential government shutdown could happen at the end of January.

Early versions of CLARITY showed lawmakers want to give more power to the Commodity Futures Trading Commission. The CFTC would get expanded authority to regulate digital assets.

The markup session is scheduled for Thursday. The committee will discuss and potentially amend the bill. The Senate must pass its version before the bill can become law.

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