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

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. BREAKING: SEC Chair Paul Atkins says it "remains to be seen" if the US takes Venezuela's reported $60 billion in #Bitcoin holdings pic.twitter.com/qeukJX6Dhm — Bitcoin Magazine (@BitcoinMagazine) January 12, 2026 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.

Cover image for France Proposes National Bitcoin Reserve, Wants to Buy 2% of Bitcoin Supply

France Proposes National Bitcoin Reserve, Wants to Buy 2% of Bitcoin Supply

Bitcoin Magazine France Proposes National Bitcoin Reserve, Wants to Buy 2% of Bitcoin Supply A pro-crypto bill will be tabled today in the French Parliament by the center-right Union of the Right and Centre (UDR) party, led by lawmaker Éric Ciotti, marking the first time such a comprehensive legislative proposal on cryptocurrency has been introduced in France. The initiative calls for a national Bitcoin Strategic Reserve and aims to position the cryptocurrency as a form of “digital gold” to strengthen financial sovereignty. The proposed legislation, which is far from approved, would see France aim to acquire up to 2% of Bitcoin’s total supply — roughly 420,000 BTC — over the next seven to eight years, according to the legislation and according to journalist Gregory Raymond. To manage the reserve, the bill envisions the creation of a Public Administrative Establishment (EPA), similar in structure to France’s gold and foreign-currency holdings. Funding for the Bitcoin reserve would come from multiple sources. Surplus nuclear and hydroelectric energy would power public Bitcoin mining operations, with adapted taxation for miners to encourage domestic participation. BREAKING: French politician Éric Ciotti introduced a bill to adapt “the new monetary order by embracing Bitcoin and crypto.” pic.twitter.com/fS7ILfhPq3 — Bitcoin Magazine (@BitcoinMagazine) October 28, 2025 Back in July, French lawmakers submitted a proposal to convert surplus electricity into economic value through Bitcoin mining. The bill outlined a five-year experimental program allowing energy producers to use excess power — particularly from nuclear and renewable sources — for mining. The July initiative aimed to tackle France’s recurring issue of energy overproduction, as producers were often forced to sell surplus electricity at a loss due to limited storage. The proposal described this as an “unacceptable economic and energy loss.” This new bill would also allow France to retain crypto seized during legal proceedings, and a quarter of funds collected via popular savings schemes, such as the Livret A and LDDS, would be allocated to daily Bitcoin purchases — approximately 15 million euros per day, or 55,000 BTC per year. Pending constitutional approval, citizens could also pay certain taxes in Bitcoin. France explores stablecoins for payments The bill also emphasizes the use of euro-denominated stablecoins for everyday payments, recognizing them as a credible alternative to traditional payment networks. Transactions under €200 would be exempt from taxation and social contributions, and payment of taxes in euro stablecoins would be allowed. The proposal explicitly opposes a European Central Bank-controlled digital euro, arguing that a centralized CBDC could threaten financial freedoms and personal privacy. To support industry development, the legislation proposes adapting electricity taxation for mining through a progressive excise duty and flexible tariffs for data centers. It also encourages institutional adoption of Bitcoin and other crypto-assets via Exchange Traded Notes (ETNs) and calls for revisions to European prudential rules, which currently impose high risk-weightings on certain crypto-assets, limiting the use of crypto as collateral for “Lombard” loans. Despite its ambitious scope, the bill faces steep political hurdles. The UDR holds only 16 of 577 seats in the National Assembly, making adoption unlikely without broader support. This post France Proposes National Bitcoin Reserve, Wants to Buy 2% of Bitcoin Supply first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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