Published: Thu, May 17, 2018
Sci-tech | By Patricia Wade

Microsoft joins other tech giants to ban crypto ads

Microsoft joins other tech giants to ban crypto ads

"This decision will be implemented globally in June with our enforcement rolling out in late June and early July".

Bing Ads, Microsoft's advertising service, has chose to disallow cryptocurrency advertising. "We are always evaluating our policies to ensure a safe and engaging experience for our Bing users and the digital advertising ecosystem".

On its website, Bing said the decision has been made to protect its users from the risks that come with cryptocurrency and unregulated products.

Bing Ads is disallowing ads for cryptocurrency, cryptocurrency-related products and unregulated binary options (also called all-or-nothing options, digital options or fixed return options), which are also susceptible to fraud.

Cryptocurrency advertising will be absent from Bing by the end of July... These include Ponzi schemes, otherwise known as pyramid schemes.

In addition, the company's ads are concentrating primarily on wordage to prevent potential investors from getting the wrong impression.

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Facebook made a similar ban last January.

Reportedly, the company already policed cryptocurrency ads to block those created to facilitate illicit activities, including money laundering and terrorist financing. "That said, there are many companies who are advertising binary options, ICOs, and cryptocurrencies that are not now operating in good faith".

Formerly Microsoft adCenter, Bing Ads is a service that provides pay-per-click advertising on both the Bing and Yahoo! search engines.

Whilst some have found (temporary) ways around the ad bans on other platforms, it does add to the growing feeling that some kind of cryptocurrency regulation is needed.

Google further targeted initial coin offerings and startups that generated cash through ICOs, citing many ventures that have garnered funds through this method only to just walk away with the earnings.

Do you think Bing is making the right move to ban cryptocurrency-related advertising? Post your comments below.

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