U.S. Securities and Change Fee Chair Paul Atkins mentioned right now that it stays unclear whether or not the U.S. authorities will transfer to grab the broadly mentioned Bitcoin holdings rumored to be tied to Venezuela, an uncertainty that comes as Washington seeks to convey better regulatory readability to digital asset markets.
Atkins advised Fox Enterprise the query of pursuing the so‑known as Venezuela Bitcoin stash — variously estimated at roughly 600,000 BTC, or about $56 billion to $67 billion at present costs — is “nonetheless to be seen” and is being dealt with by different components of the administration.
“I go away that to others to cope with. That’s not my focus,” Atkins mentioned, underscoring that the SEC shouldn’t be at the moment prioritizing asset confiscation.
Rumors in crypto and intelligence circles have pointed to an enormous “shadow reserve” of Bitcoin allegedly amassed by the Venezuelan authorities by gold gross sales, oil offers settled in stablecoins, and different transactions relationship again to 2018.
If verified and underneath U.S. management, such a reserve would rank among the many largest Bitcoin holdings globally.
However unbiased blockchain analysts notice that there isn’t any verifiable on‑chain proof but linking wallets containing such quantities to Venezuela’s authorities, and publicly traceable addresses linked to state entities mirror solely a tiny fraction of the rumored holdings.
Bitcoin and CLARITY Act replace
Atkins pivoted rapidly from the Venezuela query to focus on ongoing legislative efforts in Congress geared toward clarifying the regulatory framework for digital belongings.
“This week is a vital week as a result of the Senate is taking on a bipartisan invoice that may convey readability and certainty to the crypto world,” he mentioned, referring to a measure designed to delineate oversight duties between the SEC and the Commodity Futures Buying and selling Fee (CFTC).
The invoice — backed by members of each events and anticipated to be marked up this week — represents the subsequent step in positioning the U.S. as a worldwide chief in digital asset markets, Atkins mentioned.
He additionally cited the Genius Act, handed late final 12 months, as the primary statute formally recognizing crypto belongings underneath U.S. legislation, and credited it with serving to to convey regulatory readability to stablecoin frameworks.
Atkins expressed optimism that with clearer guidelines, markets will acquire a lot‑wanted certainty round merchandise and oversight.
He famous ongoing collaboration with the brand new CFTC chairman and reiterated the SEC’s dedication to implementing future rules as soon as enacted.
Whereas moral questions round public officers and crypto enterprise pursuits stay underneath Congressional purview, Atkins mentioned the quick precedence is a regulatory regime that reduces market ambiguity and helps investor confidence.
