Two members of Congress have introduced the “System Integrity through Licensed Vault Expansion and Resilience Act” (SILVER Act), a measure aimed at modernizing the nation’s precious metals storage framework and reducing systemic risks within U.S. financial markets. Seeks to address longstanding geographic limitations on approved depositories for precious metals tied to regulated futures markets.

Under current exchange practices, these storage facilities are largely confined to the Greater New York City area, creating what lawmakers and industry participants describe as a concentration risk with negative implications for market stability, national security, liquidity, and investor access.

“I’m proud to introduce The SILVER Act, which requires the approval of at least two depositories in the Eastern, Central, Mountain, and Pacific time zones, strengthening system integrity and resiliency.”

https://www.moneymetals.com/news/2026/03/19/lawmakers-introduce-silver-act-to-de-risk-us-precious-metals-market-infrastructure-004776

 

Sounds like a simple business decision versus requiring an Act of Congress…….