As of this June, Microsoft’s Bing Ads will disallow advertising involving cryptocurrencies, cryptocurrency-related products, and all unregulated binary options in a surprising move but one the industry has shrugged off.
Bing Ads said in a blog post:
“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.”
The changes will take effect in June, with the enforcement rolling out in late June to early July this year, Bing Ads said.
Facebook (NASDAQ:FB) ban on crypto ads
Facebook became the first social media giant to issue a ban on all digital currency-related ads on its platform when it issued a revised advertising policy guideline in January this year. The ban also covered initial coin offerings (ICOs), binary options, and cryptocurrencies.
Facebook said:
"We've created a new policy that prohibits ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, and cryptocurrency.”
However, Facebook announced over the weekend a plan to launch its own digital currency.
Other Internet giants followed suit. In March, Google (NASDAQ:GOOGL) said it would shut off cryptocurrency and ICO ads beginning in June this year amid a sweeping crackdown on high-risk and unregulated financial products. The ban covers all “binary options and synonymous products and cryptocurrencies and related content (including but not limited to initial coin offerings, cryptocurrency exchanges, cryptocurrency wallets, and cryptocurrency trading advice).”
Two weeks later, social networking platform Twitter confirmed it would ban advertisements for ICOs and token sales, citing its commitment “to ensuring the safety of the Twitter community.”
This article appeared first on Cryptovest
