(Sound Money Defense League, Money Metals News Service) A bipartisan group of U.S. Senators sponsoring the System Integrity through Licensed Vault Expansion and Resilience (SILVER) Act filed the legislation as an amendment to the National Defense Authorization Act for Fiscal Year 2027 (NDAA), further elevating the issue of geographic concentration within the United States’ precious metals settlement infrastructure as a matter of urgent national security.
Supported by a broad industry coalition that includes mints, refineries, depositories, dealers, miners, banks, logistics companies, risk managers, and industry trade groups, the bipartisan and bicameral SILVER Act (SB 4621 and H.R. 8007) would enhance financial and national security resilience by ending the extraordinary concentration of exchange-approved depositories for gold, silver, platinum, and palladium in and around New York City.
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