The Chinese authorities have announced crack downs on ICOs and cryptocurrencies which have sent the crypto-complex into spasms of fear and uncertainty.

As at the time of writing, Bitcoin is trading at $3,921 which is down around 20% from its all-time high.

In our report, Data Tariffs 2.0, published in December 2016, we highlighted that the State Administration of Foreign Exchange (SAFE) in China had been aggressively implementing existing rules around foreign capital flows to protect the value of the Renminbi.