The Ascent of ZEC, the ARMA Bill, and More Week In Review

OCC approvals for crypto trust charters covering Coinbase, Ripple, Bitgo, and others increased regulatory scrutiny from U.S. Senator Elizabeth Warren. Warren pressed the OCC over the use of “crypto bank” language, while Mike Belshe challenged the phrase’s legal definition and urged direct engagement with Bitgo staff. Lawmakers introduced the American Reserve Modernization Act of 2026 to create a 1-million-bitcoin strategic reserve, aiming to boost demand similarly to BlackRock’s IBIT. Zcash surged to $686 amid squeeze warnings. Ethereum weakness was attributed to short-term macro noise, with expectations for 2026 relief. Coinbase planned to launch regulated U.S. equity perps tied to AI, China, defense, and tech on June 8.

"OCC charters for Coinbase, Ripple, and Bitgo sparked Warren scrutiny; 2026 rules fight next. ARMA's 1M BTC reserve plan could lift demand like IBIT; Begich and Golden face a vote next. ZEC hit $686, ETH eyes 2026 relief, and Coinbase's June 8 perps expand market rails next."

"National trust charters pushed crypto custody into a broader regulatory clash as U.S. Senator Elizabeth Warren pressed the OCC over read more Editor's comment: As usual, Elizabeth Cat Lady Warren is in strong opposition to the industry getting charter licenses. Bitgo's Mike Belshe challenged Warren's use of crypto bank, arguing that the phrase doesn't actually have a legal definition, and asked Warren to engage directly with Bitgo and its staff."

"Rep. Nick Begich and Rep. Jared Golden introduced the American Reserve Modernization Act of 2026 (ARMA), a bipartisan effort that, if approved read more Editor's comment: An SBR was one of the main selling points of Trump, the Crypto President's campaign, which has not materialized as of yet. It would be great for the US if this could be timed to scoop up BTC at the bottom rather than the top. It could be a massive bullish catalyst in the same league as the launch of BlackRock's IBIT"

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