CoinVoice has recently learned that, according to CoinDesk, an alliance of members from various political parties in the UK has written to Chancellor of the Exchequer Rachel Reeves, urging modifications to the Bank of England's proposed stablecoin framework to prevent stifling innovation and capital flight. The MPs warned that the Bank of England's draft framework restricts the use of stablecoins in the wholesale market, prohibits interest on reserves, and sets a holding limit of £20,000, which could undermine the attractiveness of the City of London as a global financial center, forcing investors to turn to dollar-pegged alternatives. The letter calls for the establishment of a forward-looking stablecoin framework to ensure international investment, support the growth of high-value fintech, and solidify the UK's position as a global innovation hub.[Original link]