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 observed a series of new growths in the past few weeks. In fact, on July 30, Tron released Tron Virtual Equipment and presented a new job called Job Atlas with BitTorrent. Now, the blockchain owner Justin Sun’s following action is to establish an office in India, South China Early morning Post reported.

Sunlight just lately moved to his new workplace in Beijing and also already started making plans of growth. Currently, crypto lovers in India are waiting on Supreme Court of India’s final decision on the destiny of cryptocurrency exchanges in the country.

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

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 permitted to work with exchanges, offering the financial institutions three months’ time to exit the market. The panel of courts who are looking after the instance desires disagreements from both RBI as well as the restriction’s doubters 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 restriction
Nine months back, China first coin offerings (ICO) fundraising as well as purchased to close down local cryptocurrency exchanges. Fortunately, just before the ICO ban came into result, Tron finished its ICO as well as elevated US$ 70 million.

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

The funds collected from the Chinese financiers were returned after the ban was announced. “It’s [the clampdown] taken the heat off [the market] It’s now more sensible,” Sunlight informed South China Early morning Article, “It’s better for the industry. Many companies complied with the ruling from the federal government. It really did not trigger anything bad, if there had actually been a financial danger then it [the ban] would certainly have addressed it.”

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