Joining Google and Facebook, the search engine Bing of Microsoft no longer displays advertising cryptocurrency, products, and unregulated binary options. The news comes via a short blog post on Bing Ads, which says the change in the policy of global products and financial services in June, before a total ban on these ads in late June or early July.
“As cryptocurrency and related products are not regulated, we found that currently there is a potentially high risk for our users, with the possibility of bad actor engaged in predatory or deceive consumer’s behaviors,” said Melissa Alsoszatai Petheo, advertising policies Manager. “In order to protect our users from this danger, we have made the decision to reject advertising.”
Microsoft’s Bing Ads policies already prohibit virtual currencies designed to facilitate illegal purposes. Examples include the avoidance of money laundering, applicable taxes, and the promotion of fake virtual currencies.
Facebook introduced a similar ban on its social network in January. According to the company, the ads cannot “promote financial products and services, often associated with unreliable or misleading practices promotion, such as binary options, offering initial coins or cryptocurrency “. The company said that its new policy is deliberately broad.
“We expect people to determine and persist to discover about novel products and services through Facebook advertisement, with no fear of getting conned,” said Head of Product Management at Facebook, Rob Leathern. “However, there are many companies that promote binary options, ICO and cryptocurrencies that are not currently functioning in great trust.”
Google announced a similar move in March indicating that all ads related to cryptocurrency and unregulated investment will be banned in your AdWords advertising platform. Cryptocurrencies are not regulated, so investors are not guaranteed a safe and honest negotiation despite market demands. There is also an upward trend of cryptocurrency start-ups, which generate cash through initial currency bids and then escape with the funds.