Bing, the well-known search engine run by Microsoft, joined other Internet giants in releasing a statement saying it will ban cryptocurrency-related ads on its network since July 2018, according to an official blog post on May 15th.
According to the official declaration, the main reason for the company’s decision to ban “cryptocurrency advertising” and “related products” is the current unregulated state of cryptos, which allegedly increases the risk for Bing users.
Because cryptocurrencies and related products are not regulated, we have found that they present a potentially high risk to our users, favoring the ground for unscrupulous people to engage in predatory behavior, or otherwise defraud consumers.
Bing will cut off cryptocurrency ads this summer, between June and July
As the report says, the Bing Ads tool plans to fully implement the ban worldwide between June and early July.
Bing’s ban on cryptocurrencies ads is the latest move in a search engine and social media boycott, initiated by Facebook in late January this year. Google announced a lifting of the ban on similar cryptos ads in mid-March, while Twitter confirmed its own ban shortly afterward.
On the other hand, last week, several media reported that Facebook would be taking into account the power of launching its own cryptocurrencies.
It should be noted that, during an interview held in early April, the co-founder of the social network LinkedIn told Cointelegraph that the recent bans on encrypted advertising are, in his opinion, most likely “temporary”, due to the current lack of clear and precise regulations on the kryptonite market.
Therefore, the Bing ban on cryptocurrency ads could be temporary, until more clear cryptocurrency regulations will be adopted.
In conclusion, Bing adopts the same direction as Google, Facebook, and Twitter in banning crypto ads, a fact that would possibly influence some cryptocurrency businesses.
Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.