"We're launching a new task force between the Treasury and the Bank of England to coordinate exploratory work on a potential central bank digital currency", Sunak told a financial industry conference.

"Alongside this, we will set up a new financial market infrastructure 'sandbox' for firms innovating with technologies like distributed ledger technologies", he added.

Sunak also said the government would consult on capital market reforms such as easing curbs on share trading while ensuring "the highest possible regulatory standards".

Although given that for years the British government has insisted on keeping the pound as a form of national pride against the Euro, one has to wonder why suddenly now it is interested in crypto.  Probably now that the Euro-skeptic financiers think it is a good idea, the government will follow.