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 witnessed a collection of new developments in the past few weeks. In fact, on July 30, Tron launched Tron Virtual Maker and also presented a brand-new project called Job Atlas with BitTorrent. Now, the blockchain founder Justin Sunlight’s following move is to establish a workplace in India, South China Morning Blog post reported.

Sunlight simply lately relocated to his new office in Beijing and already started making plans of development. Presently, crypto lovers in India are awaiting High court of India’s last judgment 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 claimed that the financial institutions will certainly not be allowed to deal with exchanges, providing the financial institutions 3 months’ time to exit the market. The panel of judges who are managing the situation desires debates from both RBI and the ban’s critics to be submitted by that day after which the judgment will be made.

Justin Sunlight on just how Tron endured China’s ICO restriction
9 months ago, China first coin offerings (ICO) fundraising and ordered to close down local cryptocurrency exchanges. The good news is, just before the ICO restriction entered result, Tron finished its ICO and raised 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 revealed. “It’s [the clampdown] taken the heat off [the marketplace] It’s now much more reasonable,” Sun told South China Early morning Post, “It’s better for the sector. Most firms followed the judgment from the government. It really did not cause anything bad, if there had been an economic threat then it [the restriction] would have solved it.”

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