Tron plans to set up first office in India, Justin Sun reveals how company survived China’s ICO ban

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July 31, 2018 by
Tron plans to set up first office in India, Justin Sun reveals how company survived China’s ICO ban

Tron has actually witnessed a series of new developments in the past couple of weeks. As a matter of fact, on July 30, Tron launched Tron Virtual Maker as well as presented a new project known as Task Atlas with BitTorrent. Currently, the blockchain founder Justin Sunlight’s next move is to set up an office in India, South China Early morning Article reported.

Sunlight simply recently moved to his brand-new office in Beijing as well as already started making strategies of growth. Currently, crypto fanatics in India are waiting for Supreme Court of India’s final decision on the fate of cryptocurrency exchanges in the nation.

See also: TRON’s [TRX] Justin Sun stops short of revealing ‘secret project’

It is to be kept in mind that Reserve Bank of India (RBI) in April cracked the whip on cryptocurrency exchanges. They stated that the financial institutions will certainly not be allowed to deal with exchanges, providing the financial institutions three months’ time to leave the marketplace. The panel of courts that are supervising the instance desires arguments from both RBI and the ban’s doubters to be submitted by that day after which the decision will be made.

Justin Sunlight on exactly how Tron survived China’s ICO restriction
Nine months earlier, China first coin offerings (ICO) fundraising as well as purchased to shut down neighborhood cryptocurrency exchanges. Fortunately, just before the ICO ban entered effect, Tron completed its ICO and also elevated US$ 70 million.

See also: Tron is 80 times faster than Ethereum, Justin Sun claims

The funds gathered from the Chinese financiers were returned after the ban was introduced. “It’s [the clampdown] taken the heat off [the market] It’s now more reasonable,” Sun informed South China Morning Article, “It’s far better for the sector. A lot of firms followed the ruling from the government. It didn’t set off anything poor, if there had actually been a monetary risk after that it [the ban] would have resolved it.”

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