SEC Chair Says Fate of Venezuela Bitcoin Stash Remains to Be Seen

• SEC Chair Paul Atkins said Venezuela’s alleged 600,000 BTC stash is unverified and not being pursued by the SEC.

• Blockchain analysts report no on-chain evidence confirming state-controlled Venezuelan wallets of that scale.

• Focus has shifted to a bipartisan Senate bill clarifying SEC and CFTC roles in U.S. crypto market oversight.

Uncertainty surrounds the fate of Venezuela’s rumored Bitcoin holdings after comments from U.S. regulators. Speaking on Fox Business this week, SEC Chair Paul Atkins said it remains unclear whether the United States will pursue the assets. His remarks came in Washington as lawmakers focus on a major crypto market structure bill.

Venezuela Bitcoin Question Left to Administration

According to Paul Atkins, reports suggest Venezuela controls Bitcoin worth roughly $60 billion. Estimates place the stash near 600,000 BTC, based on current market prices. However, Atkins said decisions regarding those assets fall outside his responsibilities.

Atkins told Fox Business that other parts of the administration handle the issue. He added that he is not involved in any effort to seize Bitcoin tied to Venezuela. Instead, he praised actions by President Donald Trump, Secretary Marco Rubio, and U.S. service members regarding Venezuela.

Rumors have circulated since 2018 about a large Venezuelan Bitcoin reserve. The claims cite oil sales, gold transactions, and stablecoin settlements. However, independent blockchain analysts say no verifiable on-chain evidence confirms state ownership of wallets holding such volumes.

Analysts Question Size and Visibility of Holdings

While speculation continues, analysts point to limited blockchain data. Publicly known addresses linked to Venezuelan entities show only small Bitcoin balances. As a result, the alleged shadow reserve remains unverified.

If proven and controlled by the U.S., such holdings would rank among the largest globally. Nevertheless, Atkins emphasized that the SEC is not pursuing asset confiscation. He stated that his focus remains on regulatory priorities rather than geopolitical asset disputes.

This distinction framed the discussion before Atkins shifted topics. He redirected attention toward legislative developments shaping U.S. crypto oversight.

Senate Advances Bipartisan Crypto Framework Bill

According to Atkins, the Senate is taking up a bipartisan crypto market structure bill this week. The proposal aims to clarify oversight responsibilities between the SEC and the Commodity Futures Trading Commission.

He described the week as important for the digital asset sector. The bill seeks to provide clarity and certainty for market participants. Atkins said it will help define regulatory boundaries for crypto products.

He also referenced the Genius Act, passed late last year, which formally recognized crypto assets under U.S. law. Atkins credited the statute with advancing stablecoin regulation. He added that the SEC is coordinating with the new CFTC chair as lawmakers move forward.