Microsoft joins other tech giants to ban crypto ads

Microsoft joins other tech giants to ban crypto ads

"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", said Petheo. Microsoft now joins the ranks of several other companies that have done the same, including Facebook (NASDAQ:FB), Google (NASDAQ:GOOG) and Twitter (NYSE:TWTR).

Bing, a Microsoft powered search engine, announced its intention to ban cryptocurrency-related advertisements on its platform by July. Bing recently updated their Ads policy on May 14th in a blog post banning all Cryptocurrency ads. "Since cryptocurrency unregulated, they pose an elevated risk to Bing users and the general internet users with the potential for bad actors to engage in bad behavior or even scam consumers".

"We keep on evaluating our policies to ensure safety and a good engagement among our Bing users and the digital advertising ecosystem". The decision comes as a change envisioned in the company's policy regarding financial products and services, and it shall take partial effect in June followed by a fully-fledged ban at the end of June or beginning of July. The banning includes cryptocurrencies, crypto-related products, and unregulated binary options.

In another blow to cryptocurrency marketers, Bing Ads is banning ads promoting cryptocurrency sales, offerings and related products. A similar ban was introduced by Facebook on its social media platform earlier this year.

Though Microsoft has banned Cryptocurrencies, they are constantly participating in multiple Blockchain Products.

Reportedly, the company already policed cryptocurrency ads to block those created to facilitate illicit activities, including money laundering and terrorist financing.

The ban on such advertisements would come into force from June.

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