A bill to amend the Commodity Exchange Act to reduce systemic risk while increasing geographical diversity and competition with respect to depositories for the storage of precious metals, and for other purposes.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 4621 Introduced in Senate (IS)] <DOC> 119th CONGRESS 2d Session S. 4621 To amend the Commodity Exchange Act to reduce systemic risk while increasing geographical diversity and competition with respect to depositories for the storage of precious metals, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES May 21, 2026 Mr. Risch (for himself and Ms. Cortez Masto) introduced the following bill; which was read twice and referred to the Committee on Agriculture, Nutrition, and Forestry _______________________________________________________________________ A BILL To amend the Commodity Exchange Act to reduce systemic risk while increasing geographical diversity and competition with respect to depositories for the storage of precious metals, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``System Integrity through Licensed Vault Expansion and Resilience Act'' or the ``SILVER Act''. SEC. 2. FINDINGS. Congress finds the following: (1) Precious metals exchanges currently require physically traded metals to be stored within close proximity to New York City. (2) Geographic concentration creates systemic risk vulnerabilities, reduces available liquidity, and increases the cost to market participants. (3) Recent liquidity events in global metals markets underscore the need to minimize regulatory barriers that reduce the available supply of metals to the publicly traded marketplace. (4) Notwithstanding the current limited supply, the security standards of existing vaults supporting publicly traded exchanges are outstanding and have enhanced the confidence of market participants. (5) Market liquidity and participant confidence will be enhanced by the addition of storage vaults of