U.S. Senators introduce bipartisan SILVER Act to expand precious metals vault network. The proposal follows companion legislation introduced in the House in March and comes amid growing concern among policymakers and industry participants that the current vaulting structure is overly concentrated in one area. Under existing practices, most facilities approved to store metals for delivery against futures contracts are located within close proximity to New York City, a framework that has been in place for decades. The SILVER Act would require derivatives clearing organizations to approve at least two depositories in each U.S. time zone—Eastern, Central, Mountain and Pacific—aimed at improving system redundancy and broadening access to approved storage. https://www.kitco.com/news/article/2026-05-22/us-senators-introduce-bipartisan-silver-act-expand-precious-metals-vault(Wall Street Mav)