Joining Facebook and Google, the search engine of Microsoft – Bing, will no longer show ads for digital currencies, unregulated binary options, and related products. The news arrived on a short post on the Ads blog of Bing, and it says the change will take effect on the global financial services and product policies of Microsoft in June, before the ads will be completely ban later that month or early July.
The Risk of Crypto Ads
The advertiser policy manager of the company – Melissa Alsoszatai-Petheo said: “Because digital currency and other related products are unregulated, they have found them to have a potential elevated risk to their users, with the possibility for bad actors to take part in predatory behaviors or even scam consumers. She said they made the decision to discontinue cryptocurrency advertising to protect their users from such risk.
Microsoft’s Ban List
Digital currencies – together with related products and services – is among other legally questionable business opportunities on the ban list of Microsoft, such as pyramid schemes, Ponzi schemes, and investments that rely on adding users to a scheme.
The Ads policies of Microsoft’s Bing have already ban cryptocurrencies that are aimed at facilitating illegal purposes. Example of such includes promotion of forged/fake digital currencies, money laundering, and avoiding applicable taxes. A similar ban was introduced by Facebook on its social media platform earlier this year.
According to the firm, ads aren’t allowed to promote financial services and products that are often associated with deceptive or misleading promotional practices, such as initial coin offering, binary options, or digital currencies. Facebook said its new policy is deliberately broad.
The product management director of Facebook – Rob Leathern, said that they want people to continue to learn and discover new services and products via the ads on Facebook without the fear of deception and scams.
Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.
