Huobi Global Shield Exchange announced that its Australian unit will now be run by Singapore.
"Please note that due to unfavorable market conditions and related staff redundancies, all Huobi Australia operations, including platforms, social media and customer support, will be hosted by Huobi Global headquarters on February 26th.
The company also dropped plans to add support for the currencies to be released, and in this respect will withdraw its application for registration at the Australian Center for Accountability and Transaction Analysis (AUSTRAC). This exchange will continue to support only pairs of cryptoLooks.
The Huobi Australia team wished everyone who supported the platform for eight months of its launch, success in commerce, portfolio investment and many green candles this year.
Previously, ForkLog reported that half of Huobi's employees could fall below the discount.
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