UK Parliament Urges Reconsideration of Stablecoin Regulations to Foster Innovation A bipartisan group of UK lawmakers, including former Defence Secretary Sir Gavin Williamson and Lord Hart, have called on Chancellor Rachel Reeves to review the Bank of England's proposed regulations for systemic stablecoins. Their joint letter warns that the current framework could hinder innovation and push capital offshore, risking the UK's position as a leader in digital asset development. Key Takeaways Lawmakers warn that the Bank of England’s stablecoin regulations could stifle innovation and drive activity abroad. The current proposals include restrictive limits and requirements that may favor offshore stablecoins like USDC and USDT. Stablecoins are increasingly integral to the digital economy, yet UK regulation risks fragmenting the market. The UK’s approach may overstate risks and undercut its ambitions to be a global hub for digital assets. Tickers mentioned: none Sentiment: Cautiousl...