Microsoft Advertiser Policy Manager Melissa Alsoszatei-Petheo has announced that cryptocurrency-related advertising will no longer be welcome on the company’s Bing search engine. Bing Ads plans to enact the policy on a global basis next month and will begin to enforce the ban later in June or July.
The announcement appeared in a blog post, and cited a lack of regulation and increased user risk as justification for the decision:
“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.
To help protect our users from this risk, we have made the decision to disallow advertising for cryptocurrency, cryptocurrency related products, and un-regulated binary options. Bing Ads will implement this change to our financial product and services policy globally in June, with enforcement rolling out in late June to early July.”
Microsoft’s ban comes on the heels of similar decisions from companies like Facebook and Google. In January, Facebook announced a ban on all advertising that promoted digital currencies, including initial coin offerings. Roughly two months later, Google announced a similar ban on all digital currencies and “speculative financial products.”