SILVER Act Precious Metals Depositories Expansion

planned

The System Integrity through Licensed Vault Expansion and Resilience (SILVER) Act is a bipartisan bill introduced by U.S. Senators Jim Risch and Catherine Cortez Masto to expand the geographic diversity of approved precious metals depositories across the U.S. The act aims to break the monopoly of New York City vaults by requiring the selection of two depositories in each of the Mountain, Pacific, Eastern, and Central time zones. This expansion is intended to reduce costs for miners and market participants, lower risks tied to geographic concentration, enhance national security, and support domestic mining industries in the western U.S.