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Pietro Poretti, the city of Lugano’s director of the economic development division, said that their goal is to allow people to live in the city using only Bitcoin. While Switzerland has been popular among the wealthy for its prowess in banking, the country has also been slowly welcoming those who mainly want to use Bitcoin (BTC) as an alternative form of money.  Cointelegraph reporter Joseph Hall spoke with Pietro Poretti, the director of the economic development division of the city of Lugano. They discussed various topics including how to set up a company using Bitcoin in the city of Lugano, the state of crypto adoption in the city, and the possibility of getting a residence permit in the country through the use of BTC. Pietro Poretti sits down with Cointelegraph's Joseph Hall. Source: Cointelegraph  According to Poretti, Bitcoin can now be used as capital to set up companies in Lugano. The executive said that businesses can set up shop if they have a minimum of 100,000 Swiss ...

Join Our Telegram channel to stay up to date on breaking news coverage Fear and concern have spread through the financial industry after the recent closure of the popular crypto bank, Silvergate. To make matters worse, investors are now worried about the future of another US bank, known as the Silicon Valley Bank, which is among the top 20 largest banks in the country. Recently, SVB announced a significant sale of its stocks and assets, seeking to raise additional capital. However, many believe that this move is a reason to be concerned and that the VC-focused bank and tech startup is not doing well. Especially after its shares collapsed by over 60% only a day after Silvergate’s closure, effectively wiping nearly $80 billion in value. SVB’s efforts to raise capital caused further concern among investors Apart from being among the largest US banks, SVB is also known for being a banking service provider to crypto -friendly venture companies Andreessen Horowitz and ...