Bipartisan SILVER Act Gains Strong Momentum in Congress as Lawmakers Eye National Defense Bill - www.newswire.com

AI desk brief

The industry coalition backing the SILVER Act reports a dozen additional congressional cosponsors and an effort to include it in the lame-duck National Defense Authorization Act. The proposal would require systemically important derivatives clearing organizations to establish objective approval standards and transparent application procedures for qualified precious-metals depositories across four continental US time zones. It would neither guarantee facility approval nor dictate storage locations. Supporters argue diversification beyond the New York region could reduce disruption risks and costs; those benefits remain conditional on enactment and implementation, with no near-term bullion-price effect established.