In Brief
Japan now accounts for roughly half of the global bitcoin exchange market. The country's share surged over the weekend in response to new Chinese legislation that forces the nation's crypto exchanges to halt operations over the next several weeks.

Japan has risen above the U.S. in the worldwide rankings for the largest bitcoin exchange market. The country now accounts for roughly 48 percent of the global market share, reaching a high of 51 percent over the weekend.

This is thanks in no small part to the Chinese government’s recent rulings on the cryptocurrency. The nation first issued a ban on initial coin offerings (ICOs) and then requested that exchanges and trading platforms cease operations by the end of September, granting an extension until October 30 for OKCoin and Huobi.