The 2026 SILVER Act – Here’s What Investors Need to Know.

 

The 2026 SILVER Act – Here’s What Investors Need to Know.

The System Integrity through Licensed Vault Expansion and Resilience (SILVER) Act is a piece of legislation currently being considered in Congress. If passed, the law would add new Commodity Futures Trading Commission (CFTC)-approved depositories in each time zone in the United States. Proponents say the legislation could mitigate storage costs while improving liquidity for the precious metals market.

Introduced back in March, the SILVER Act is not yet being debated but could hit the House floor for more official consideration sometime in 2026. While the law is unlikely to impact the average retail precious metals investor, it could have major implications for the larger market.

On this page, learn everything investors need to know about the SILVER Act, a major piece of legislation that could fundamentally alter the way precious metals are stored and traded in the United States.

The SILVER Act was introduced on March 19th, 2026, by Rep. Russ Fulcher (ID-01) and Mark Harris (NC-08). If passed, the legislation would require the establishment of CFTC approved bullion depositories in each U.S. time zone in an effort to reduce risk while expanding competition among precious metal storage institutions. According to the legislation, this bill is intended:

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.

Currently, CFTC approved bullion depositories are highly concentrated in the Northeast, primarily in New York, Delaware, and Massachusetts. The authors behind the SILVER Act argue that the concentration of approved bullion depositories restrains competition and increases risk at these facilities.

In particular, the proposed law’s architects believe that risks related to natural disasters necessitate the addition of new usable depositories for precious metals and other physical assets. Heightened geographical diversity could also improve market liquidity and resiliency, the proposed law states.

Increasing competition in the bullion storage industry is another intended consequence of the SILVER Act. By introducing new qualifying bullion depositories across the United States, legislators hope that heightened competition between storage options will decrease storage costs for retail and institutional investors.

The SILVER Act has not yet been debated in Congress. This piece of legislation was introduced to the House of Representatives on March 19th, 2026. 

Representative Russ Fulcher (ID-01) said in a press release that the legislation could protect precious metals in the case of a natural disaster or national emergency.

Having metal depositories located in more than one region in the United States will provide Americans across the country with affordable access to metal exchanges and safeguard assets in the event of a national emergency of extreme weather event. I’m proud to introduce The SILVER Act, which requires the approval of at least two depositories in the Eastern, Central, Mountain, and Pacific time zones, strengthening system integrity and resiliency.

The statement from Rep. Fulcher goes on to explain that the current concentration of approved depositories in the Northeast poses “substantial limits on market liquidity, increased security risks, and limitations on Americans living in the Western United States.”

A Senate version of the bill (S. 4621) was introduced on May 21st of 2026 by Sen. James Risch (R-ID) and Sen. Catherine Cortez Masto (D-NV). So far, the legislation seems to enjoy bipartisan support, as well as the backing of notable stakeholders in the precious metals industry.

As of June 2026, the SILVER Act has not yet been scheduled for a formal floor debate. First, it will go through a phase of committee reviews. If the SILVER Act makes it out of its respective committees (House Committee on Agriculture and Senate Committee on Agriculture, Nutrition, and Forestry), a formal floor debate in both chambers will follow. If passed by both the House and Senate, it will then head to President Donald Trump’s desk for signing before becoming law.

This page will be updated as new information about the SILVER Act becomes available.