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 experienced a series of brand-new advancements in the past few weeks. In fact, on July 30, Tron launched Tron Virtual Equipment and introduced a brand-new job called Task Atlas with BitTorrent. Now, the blockchain founder Justin Sun’s next action is to establish an office in India, South China Early morning Post reported.

Sun just lately transferred to his brand-new office in Beijing and also currently began making strategies of expansion. Currently, crypto fanatics in India are waiting on High court of India’s last decision 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 stated that the financial institutions will not be allowed to deal with exchanges, providing the financial institutions 3 months’ time to exit the market. The panel of judges who are overseeing the case wants debates from both RBI as well as the ban’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 earlier, China first coin offerings (ICO) fundraising and ordered to close down local cryptocurrency exchanges. Thankfully, just before the ICO restriction entered into effect, Tron finished its ICO and increased US$ 70 million.

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

The funds collected from the Chinese financiers were returned after the restriction was revealed. “It’s [the clampdown] taken the heat off [the market] It’s currently a lot more reasonable,” Sun told South China Morning Post, “It’s much better for the industry. The majority of firms complied with the judgment from the federal government. It really did not cause anything poor, if there had actually been an economic risk then it [the restriction] would have solved it.”

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