Bing becomes latest to ban cryptocurrency ads

Cryptocurrency ads banned on Bing

Cryptocurrency ads banned on Bing

According to Melissa Alsoszatai-Petheo, Advertiser Policy Manager, the decision has been reached because cryptocurrency is not regulated and so the related products "present a possible elevated risk to our users with the potential for bad actors to participate in predatory behaviors, or otherwise scam consumers". The ban is expected to take full effect by late June or early July.

Following the lead set by Google, Facebook and Twitter, the search service Bing has confirmed that it's now set to ban cryptocurrency advertising too.

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Cryptocurrency advertising has undoubtedly seen better days than those in the first quarter of 2018.

Bing Ads is disallowing ads for cryptocurrency, cryptocurrency-related products and unregulated binary options (also called all-or-nothing options, digital options or fixed return options), which are also susceptible to fraud. These include Ponzi schemes, pyramid schemes, and investments in which it's necessary to add other participants. For example, an advertisement saying, "save more of your money" followed by, "learn this money-saving tip and save more" would be acceptable, whereas something like, "save your money today" followed by, "sign up for this secret or risk losing your savings" would be non-compliant. Just last week, Facebook announced a new Blockchain department with rumours of the company launching their own Cryptocurrency. "That said, there are many companies who are advertising binary options, ICOs, and cryptocurrencies that are not now operating in good faith". In March, Google announced a ban that comes into force in June. Bing is the latest to join the list of search engine and social media platforms, which have banned cryptocurrencies related advertisements. All three companies implemented their bans on cryptocurrency advertising earlier this year and have said in some form or other, that the decision will ensure the safety of their users from deceptive advertising. Post your comments below.

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