The UK Cross-Party Parliamentary Group recently sent a letter to Finance Minister Rachel Reeves, urging the government to amend the current stablecoin regulatory draft to avoid stifling innovation and prevent capital outflows. The letter was co-signed by several prominent MPs and nobles, including Sir Gavin Williamson, Lord Camrose, and Baroness Wilma, directly criticizing the Bank of England's current regulatory proposal as "potentially overly restrictive." The lawmakers emphasized that stablecoins have become a vital infrastructure in the digital economy, playing an increasingly critical role in the global financial system. In 2024, stablecoin trading volume reached $27.6 trillion, surpassing the combined volume of Visa and Mastercard transactions, and is expected to exceed $100 trillion before 2030. They believe stablecoins are reshaping the way payments, settlements, and cross-border finance operate, and are also the core drivers for future financial inclusion and efficiency improvements.