Following Facebook, Twitter and Google, it seems that Microsoft will join the trend of banning crypto-related advertisements, stating that it will ban these ads from its Bing search engine by July 2018.
Advertiser policy manager at Microsoft, Melissa Alsoszatai-Petheo, announced the decision in a blog post on Wednesday, which read the following:
“We are always evaluating our policies to ensure a safe and engaging experience for our Bing users and the digital advertising ecosystem. Because cryptocurrency and related products are not regulated, we have found them to present a possible elevated risk to our users with the potential for bad actors to participate in predatory behaviors, or otherwise scam consumers.”
According to the statement, the main reason behind the ban is due to the current unregulated condition of cryptocurrencies, which supposedly increases the risk for Bing’s users.
“To help protect our users from this risk, we have made the decision to disallow advertising for cryptocurrency, its related products, and un-regulated binary options,” she added.
As the report goes on to say, Bing Ads will implement this ban globally in June, with execution starting from late June to early July.
Bing’s latest ads ban is the latest of a series of cryptocurrency advertisement bans, which was started by social media giant Facebook in Late January this year, prohibiting all ads promoting cryptocurrencies, including Bitcoin and ICOs. Google soon followed this initiative, and in March it also announced a similar ban on its own platform. Soon after, Twitter also announced its own ban on crypto ads.
While Bing is an online browser that is not as popular as Google, the release of Microsoft’s report might have put a damper on the cryptocurrency market, who is incredibly susceptible to bearish sentiments. Bitcoin, the most valuable cryptocurrency by market cap, has lost nearly 7% of its price right after the announcement was made.