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An incoming legislative amendment could force China to reconsider its fragmented system of financial markets oversight

Are banks and Bitcoin firms at the start of a beautiful friendship? Bitcoin and banking need each other. So why can't the two get along? Since their creation, Bitcoin and other virtual currencies have lived in a murky world, with their anonymity and separation from official government bodies raising concerns. That has allowed the technology to capitalise on the best of the market, creating new ways to process payments, and transfer and exchange funds. Over this same period, the banking industry has faced greater regulation and political scrutiny. New requirements are adding to the sector's costs and processing times, cutting into traditional profit centres. A partnership between virtual currency firms and traditional financial institutions could benefit both their business and customers.

Alibaba has announced that it will list in the US, concluding speculation over whether New York or Hong Kong would host what's expected to be 2014's biggest initial public offering (IPO).

IFLR's cover story this month looks at developments in contingent convertible bonds (also known as CoCos), and the rapid maturation of the bank capital market. CoCos are bonds that are designed to convert into shares or be wiped out if a bank runs into trouble. Because these securities receive a regulatory seal of approval as a way for banks to build loss-absorbing capital buffers, the instruments are quickly gaining popularity. Indeed, Santander and Danske Bank have both recently issued CoCos. Even Nationwide, a mutual with no equity into which the bonds can convert, has now found a way to enter the market.

George Borovas,

Disintermediation via group insurers is the low hanging fruit for longevity de-risking

Apollo has become the first private equity firm to takeover a Spanish bank, revealing the Bank of Spain's new regulatory attitude towards financial sponsors as bank owners.

Ellen Snare,

The rules are a salvo against recognising home country rules

Craig Whitley,