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flag CFTC chairman examines risks of limiting precious metals vaults to NYC area.

flag CFTC Chairman Michael Selig testified before Congress on April 16, 2026, acknowledging concerns about the geographic concentration of precious metals depositories. flag Critics argue that limiting vaults to a 150-mile radius of New York City creates national security and market stability risks. flag In response, the CFTC is examining these risks and collaborating on the SILVER Act to expand eligible vault locations and improve market resilience.

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