The Secret to Tron’s Continual Beating of ICO Bans with China and soon to be India
Many cryptocurrency users are curious on Sun’s ability to take Tron passed bans placed on cryptocurrencies and ICOs like he did in China and soon to be India. Sun has recently made power moves for the company in preparation to bring the crypto to India.
As for the overcoming of Chinese regulations, the process wasn’t a challenge – Tron simply played the game right – just after the ban was placed on ICOs, they returned the more than seventy million USD in funds raised to investors, thereby taking Tron out of the spotlight placed by the countries regulators. Chinese banned ICOs roughly nine months ago, shutting down most of the countries local cryptocurrency exchanges as well. Tron was able to skirt by the skin on their teeth to avoid any issues.
Tron has been advancing in the industry at a steady pace, recently purchasing the mighty BitTorrent. Buying the massive torrent manager gave them roughly 150,000,000 new users to access, soon to likely jump Tron into the top five of most valuable cryptocurrencies. Sun, founder of the company and Super Rep, is preparing for the Indian endeavor from the comfort of his new Beijing situated office.
In case you haven’t kept up with recent cryptocurrency news, the Reserve Bank of India came down hard on cryptocurrencies, making it illegal for any financial institution inside the country to support crypto in any way. The Supreme Court of the country is still going through a decision-making process to determine the fate of cryptocurrency in the country. Any banks or financial institutions that once worked with crypto were given 90 days to make an exit from any such relationships.
Tron is working hard to gain a foothold in the world crypto economy, China has eased up somewhat as well making things easier for them. Next on the list of goals is to make it as one of the first into India, then pull in as many of the BitTorrent Users as possible.
One major setback now facing Tron however is directly related to Justin Sun, who was recently accused of plagiarism. Sun was called out by several companies and individuals for stealing code from Ethereum and writing from their white paper as well. Sun of course denied the accusations, but this wasn’t the first-time fingers have been pointed at him. Not long ago it was believed he stole some 6-billoin Tron tokens when they were at an all-time high price. Again, no charges were pressed, but there are still plenty of cryptocurrency users now wary of anything involving Tron’s first Super Rep (and founder of the platform).
Will you invest with Sun and Tron? Leave your answers in the comment section below and tell us why either way.