A Republican bill with 2 Democratic cosponsors · See all 6 cosponsors
Last activity — Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
The SILVER Act aims to amend the Commodity Exchange Act to change how precious metals are stored. It seeks to reduce systemic risk by moving away from the current requirement that metals be stored near New York City. The bill requires systemically important derivatives clearing organizations to develop transparent criteria for selecting metal depositories. It mandates that these organizations select at least two depositories in each major U.S. time zone. Additionally, the act focuses on increasing competition, liquidity, and market access through geographic diversity.
Yes· 3 of 6
- Scored +3
Is this likely to grow the economy?
The bill seeks to increase market liquidity and competition in the precious metals markets.
- Scored +3
Does this invest in rural communities?
The mandate to include depositories in all major U.S. time zones promotes economic activity outside of the highly concentrated New York region.
- Scored +3
Does this make what the government does easier for the public to see?
The bill requires clearing organizations to develop and publish objective and transparent criteria for selecting depositories.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Reduced Systemic Risk: By requiring geographic diversity in storage, the bill seeks to reduce vulnerabilities caused by concentrating precious metals in one specific area (Section 2).
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Lower Costs: The bill aims to reduce storage costs for market participants by utilizing lower-cost markets and increasing competition in the storage marketplace (Section 2 and Section 3).
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Increased Market Access and Liquidity: The provisions are intended to enhance market liquidity and provide greater market access to investors by increasing the number of available storage vaults (Section 2 and Section 3).
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Improved Resiliency: By requiring multiple depositories across Eastern, Central, Mountain, and Pacific time zones, the bill seeks to increase market resiliency (Section 3).
Potential Negative Impacts for People
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Increased Regulatory Burdens: The bill requires systemically important derivatives clearing organizations to develop, publish, and employ new objective and transparent criteria for evaluating and selecting depositories (Section 3).
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New Compliance Requirements: Systemically important derivatives clearing organizations will be required to provide a formal process for depositories to apply for selection and must periodically assess ease of access for physical settlement (Section 3).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Economy And Finance
- Is this likely to grow the economy? — The bill seeks to increase market liquidity and competition in the precious metals markets. Does this give people more protection from unfair business practices? — By increasing transparency and competition in storage, the bill aims to lower costs for market participants.
- Demographic And Interest Groups
- Would high-income households be better off under this? — The bill aims to increase market access and liquidity for investors of all scales. Would people in cities be better off under this? — The bill redistributes storage activity away from the concentrated New York City area to other regions.
- Environment Energy And Infrastructure
- Does this invest in rural communities? — The mandate to include depositories in all major U.S. time zones promotes economic activity outside of the highly concentrated New York region.
- Governance And Ideology
- Does this make what the government does easier for the public to see? — The bill requires clearing organizations to develop and publish objective and transparent criteria for selecting depositories.
- 11/9/2026
- 1 Cosponsor added.
- 7/29/2026
- 1 Cosponsor added.
- 7/23/2026
- 1 Cosponsor added.
- 6/24/2026
- 2 Cosponsors added.
- 5/21/2026
- Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
- 1 Cosponsor added.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Ted BuddRepublican · North Carolina
Mike CrapoRepublican · Idaho
Catherine Cortez MastoDemocrat · Nevada
Cynthia LummisRepublican · Wyoming
Mike LeeRepublican · Utah
Jacky RosenDemocrat · Nevada