A cross-party coalition of U.K. lawmakers has called on Chancellor Rachel Reeves to step in and ensure Britain’s regulatory framework for stablecoins doesn’t stifle innovation or drive capital overseas, warning that the Bank of England’s current proposals risk risks undermining the City of London's appeal as the global financial hub. In a letter dated Dec. 11, 2025, addressed to the Chancellor and signed by prominent MPs and peers including Sir Gavin Williamson, Viscount Camrose, and Baroness Verma, the ...