SILVER Act Filed as NDAA Amendment
Analysis based on 8 articles · First reported Jun 11, 2026 · Last updated Jun 25, 2026
The proposed SILVER Act aims to diversify the geographic concentration of precious metals depositories, which could lead to increased market liquidity, competition, and reduced costs for market participants. This would strengthen domestic supply chains and potentially enable new innovative digital products, positively impacting the precious metals industry and related sectors. The current concentration in New York City creates a single point of failure, and its diversification would mitigate systemic risks to the U.S. financial system.
A bipartisan group of U.S. Senators, including Jim Risch and Catherine Cortez Masto, filed the System Integrity through Licensed Vault Expansion and Resilience (SILVER) Act as an amendment to the National Defense Authorization Act for Fiscal Year 2027. This legislation aims to address the national security risks posed by the geographic concentration of exchange-approved depositories for Gold, Silver, Impala Platinum, and Palladium in and around New York City. The Precious Metals Industry Coalition for Market Security and Access supports the bill, arguing that the current concentration is anticompetitive and creates vulnerabilities to financial markets and supply chains. The United States — United States Commodity Futures Trading Commission Chairman Michael S. Selig has also expressed support. The SILVER Act seeks to establish an application process, greater transparency, and objective evaluation standards for depository approvals, promoting regional diversification, reducing costs, and strengthening domestic supply chains.
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