SEC Chair: Fate of Rumored Venezuelan Bitcoin Stash ‘Remains to Be Seen’

Bitcoin Magazine

SEC Chair: Fate of Rumored Venezuelan Bitcoin Stash ‘Remains to Be Seen’

U.S. Securities and Exchange Commission Chair Paul Atkins said today that it remains unclear whether the U.S. government will move to seize the widely discussed Bitcoin holdings rumored to be tied to Venezuela, an uncertainty that comes as Washington seeks to bring greater regulatory clarity to digital asset markets.

Atkins told Fox Business the question of pursuing the so‑called Venezuela Bitcoin stash — variously estimated at roughly 600,000 BTC, or about $56 billion to $67 billion at current prices — is “still to be seen” and is being handled by other parts of the administration. 

“I leave that to others to deal with. That’s not my focus,” Atkins said, underscoring that the SEC is not currently prioritizing asset confiscation.

Rumors in crypto and intelligence circles have pointed to a massive “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 U.S. control, such a reserve would rank among the largest Bitcoin holdings globally. 

But independent blockchain analysts note that there is no verifiable on‑chain evidence yet linking wallets containing such amounts to Venezuela’s government, and publicly traceable addresses connected to state entities reflect only a tiny fraction of the rumored holdings.

Bitcoin and CLARITY Act update 

Atkins pivoted quickly from the Venezuela question to highlight ongoing legislative efforts in Congress aimed at clarifying the regulatory framework for digital assets. 

“This week is an important week because the Senate is taking up a bipartisan bill that will bring clarity and certainty to the crypto world,” he said, referring to a measure designed to delineate oversight responsibilities between the SEC and the Commodity Futures Trading Commission (CFTC).

The bill — backed by members of both parties and anticipated to be marked up this week — represents the next step in positioning the U.S. as a global leader in digital asset markets, Atkins said.

He also cited the Genius Act, passed late last year, as the first statute formally recognizing crypto assets under U.S. 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 noted ongoing collaboration with the new CFTC chairman and reiterated the SEC’s commitment to enforcing future regulations once enacted. 

While ethical questions around public officials and crypto business interests remain under Congressional purview, Atkins said the immediate priority is a regulatory regime that reduces market ambiguity and supports investor confidence.

This post SEC Chair: Fate of Rumored Venezuelan Bitcoin Stash ‘Remains to Be Seen’ first appeared on Bitcoin Magazine and is written by Micah Zimmerman.