Huobi Global announced that the Australian cryptococcoma platform Huobi Australia will be managed from the headquarters of the company in Singapore in connection with the reduction of local staff.

In a statement posted Huobi Australia Facebook says:

“Please be advised that due to poor market conditions and related the recent layoffs of the staff here at Huobi Australia, all operations, including the management of our platform, social media channels and customer support will be February 26, 2019 to be implemented by our team in the headquarters Huobi Global”.

The exchange also said that he refused from plans to introduce to the site pairs with Fiat currency, and stop the current format of purely cryptocurrency exchange. In this regard, the company decided to cancel its registration in the Australian reporting and analysis centre transactions (AUSTRAC), which is required for operations with Fiat money.

Platform Huobi Australia was launched in July last year.

Recall that reports of mass layoffs at Huobi appeared at the end of last year. In the company they denied and spoke of the reorganization of the business, but in January an unnamed ex-Manager of the company confirmed that from November Huobi has cut about a third of the staff.