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 collection of new advancements in the past couple of weeks. In fact, on July 30, Tron launched Tron Virtual Machine and presented a brand-new task referred to as Job Atlas with BitTorrent. Now, the blockchain founder Justin Sunlight’s following move is to set up a workplace in India, South China Morning Message reported.

Sun just lately moved to his new office in Beijing and also currently began making plans of expansion. Currently, crypto enthusiasts in India are waiting on High court of India’s final decision on the fate 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 said that the financial institutions will not be allowed to work with exchanges, providing the financial institutions three months’ time to exit the market. The panel of courts that are overseeing the situation wants disagreements from both RBI as well as the restriction’s doubters to be sent 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 preliminary coin offerings (ICO) fundraising and also gotten to shut down local cryptocurrency exchanges. Fortunately, just before the ICO ban entered effect, Tron finished its ICO and increased US$ 70 million.

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

The funds accumulated from the Chinese investors were returned after the ban was introduced. “It’s [the clampdown] taken the heat off [the marketplace] It’s now more reasonable,” Sunlight informed South China Morning Article, “It’s better for the sector. The majority of firms complied with the ruling from the government. It really did not activate anything negative, if there had been an economic danger then it [the ban] would certainly have fixed it.”

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