Europe, where the rules for overseeing the crypto sector are clearly spelled out under the MiCA legislation – is seeing an artful crypto consciousness movement emerging along its empty border and building walls on its territory. A group of street artists came together in January this year to form a group called ‘Street Cy₿er’, which was specifically dedicated to sparking awareness and discussion around this relatively new fintech sector, which is also currently infamous for its volatility and lack of rules governing outside the European Union (EU).
This Street Cy₿er group consists of over a hundred members. These members include people from the artist, journalist, academic and activist communities across the EU region. A Cointelegraph report said on September 25.
Street art related to Bitcoin and other cryptocurrencies, initiated by this group, has popped up in Barcelona, London, Berlin, Madrid, Prague, Riga (Latvia) and Tallin (Estonia) over the past nine months between January and September this year.
“Street art is also a way to bypass traditional media, which is often controlled by powerful interests. The symbiosis between street art and Bitcoin is powerful. Bitcoin is a peaceful way to protest against the state and its policies. It is a way to step out of the traditional financial system [and] escape the tyranny of the state,” the report quotes Street Cy₿er representatives.
While some of this group’s work leans toward making political statements, the other part involves just having fun with crypto-themed paintings and stickers, including famous cartoon characters.
On X (formerly Twitter), the group boasts a verified handle with over three thousand followers. Photos of these pro-crypto artworks are often posted through this handle that claims to “raise Bitcoin awareness.”
This artful crypto awareness campaign comes as the EU now looks to make its region a haven for Web3 industry players. The country passed the Mica legislation earlier this year and plans to fully enforce it by the end of 2024.
The Markets in Crypto Assets (MiCA) framework is largely about consumer protection and preventing market manipulation and financial crimes in the crypto sector. The MiCA bill aims to prevent insider trading, unlawful disclosure of insider information and market manipulation related to crypto assets.
Last year, European countries had 98.5 million crypto users, compared to 71.5 million users the year before.
