Monday 25 September 2023

Crypto-Related Street Art Gaining Popularity in Europe, Aiming to Stir Awareness

Europe, where the rules overseeing the crypto sector have been pronounced clearly under the MiCA legislation — is seeing an artsy crypto awareness drive shaping up along the empty boundary and building walls within its territory. A group of street artists came together in January this year to form a group called ‘Street Cy₿er', dedicated specifically to stir awareness and discussions around this relatively new fintech sector, which is also currently infamous for its volatility and lack of rules that govern it outside of the European Union (EU).

Over a hundred members make up this Street Cy₿er group. These members include people from the artist, journalist, academician, and activist communities spread across the EU region. A CoinTelegraph report said on September 25.

Street art related to Bitcoin and other cryptocurrencies, initiated by this group, has surfaced in Barcelona, London, Berlin, Madrid, Prague, Riga (Latvia), and Tallin (Estonia) in the last nine months between January and September this year.

“Street art is also a way to bypass the traditional media, which is often controlled by powerful interests. The symbiosis between street art and Bitcoin is a powerful one. Bitcoin is a peaceful way to protest against the state and its policies. It is a way to opt out of the traditional financial system [and] escape the tyranny of the state,” the report has quoted representatives of Street Cy₿er as saying.

While some of this group's work is inclined towards making political statements, the other part only includes having fun with crypto-themed paintings and stickers, including famous cartoon characters.

On X (formerly Twitter), the group flaunts a verified handle with over three thousand followers. Pictures of these pro-crypto artworks are often posted via this handle that claims to be ‘Raising awareness about Bitcoin'.

This artsy crypto awareness drive comes when the EU is now looking to make its region a haven for Web3 industry players. It passed the Mica legislation earlier this year and plans to enforce it completely by the end of 2024.

The Markets in Crypto Assets (MiCA) framework largely revolves around consumer protection and prevention of market manipulation and financial crimes in the crypto sector. The MiCA bill aims to prevent insider dealing, unlawful disclosure of inside information, and market manipulation related to crypto-assets.

Last year, European nations clocked 98.5 million crypto users, up from 71.5 million users that were recorded the year before.

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