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 seen a collection of new developments in the past couple of weeks. As a matter of fact, on July 30, Tron launched Tron Virtual Device and presented a new project referred to as Job Atlas with BitTorrent. Currently, the blockchain creator Justin Sunlight’s following step is to set up an office in India, South China Early morning Blog post reported.

Sunlight simply lately moved to his new office in Beijing and also already began making strategies of growth. Presently, crypto lovers in India are awaiting High court of India’s final verdict on the destiny of cryptocurrency exchanges in the country.

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

It is to be noted that Reserve Bank of India (RBI) in April cracked the whip on cryptocurrency exchanges. They claimed that the financial institutions will certainly not be allowed to work with exchanges, offering the financial institutions 3 months’ time to leave the marketplace. The panel of judges that are looking after the situation wants disagreements from both RBI and also the ban’s critics to be sent by that day after which the verdict will be made.

Justin Sunlight on just how Tron made it through China’s ICO ban
9 months ago, China preliminary coin offerings (ICO) fundraising and also bought to shut down local cryptocurrency exchanges. Thankfully, just before the ICO ban came into effect, Tron completed its ICO and elevated US$ 70 million.

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

The funds collected from the Chinese investors were returned after the restriction was revealed. “It’s [the clampdown] taken the heat off [the market] It’s currently a lot more practical,” Sun told South China Early morning Blog Post, “It’s far better for the sector. Most firms complied with the judgment from the government. It really did not cause anything negative, if there had been an economic risk after that it [the restriction] would certainly have fixed it.”

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