Lawmakers Introduce SILVER Act to De-Risk U.S. Precious Metals Market Infrastructure

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Lawmakers Introduce SILVER Act to De-Risk U.S. Precious Metals Market Infrastructure​

Washington, D.C. (March 19, 2026) — 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.

The legislation filed today by Rep. Russ Fulcher (R-ID) and Rep. Mark Harris (R-NC) 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.

More:

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

 

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This looks like a bill sponsored by MoneyMetals which runs a vault outside of the CME geographic zone. As I said on X when I saw this yesterday: