US Securities and Exchange Commission (SEC) Chairman Paul Atkins has not ruled out the possibility that US authorities could seize Venezuelan Bitcoin holdings if the opportunity arises, following reports about the country’s digital asset hoard.
The matter comes after claims that Venezuela holds up to 600,000 Bitcoin, with an estimated value of around $60 billion, although these claims have yet to be confirmed by blockchain analysts and crypto intelligence platforms.
Atkins said that it is still unclear what action the US government will take on the issue, and any decision on the seizure of digital assets is under the jurisdiction of other parts of the administration.
The reports about Venezuela’s Bitcoin holdings come after US forces, on the orders of President Donald Trump, detained Venezuelan President Nicolás Maduro last week before transferring him to the United States to face criminal charges in New York.
To date, there is no concrete evidence to confirm the reported $60 billion value of the crypto hoard.
However, Venezuela has previously been known to be actively involved in the digital asset industry, including the launch of a national oil-backed cryptocurrency in 2018.
Atkins' remarks also come ahead of a key session of the US Senate Banking Committee scheduled to discuss progress on the Digital Asset Market Clarity Act, known as the CLARITY Act.
The bill passed the House of Representatives in July and has been under review in the Senate for several months, with delays believed to have been affected by the 43-day US government shutdown in October and November.
Several banking institutions and crypto companies have also raised concerns about the stablecoin reward provisions in the draft bill, while members of the Democratic Party are reportedly pushing for stronger ethical safeguards and further clarification on the regulation of decentralized finance.
