Microsoft’s Bing Ads To Disallow Crypto Advertisingbr>
Bing Ads, Microsoft’s advertising service, is planning to ban cryptocurrency ads on its platform, citing the need to protect users from scams.
Formerly Microsoft adCenter, Bing Ads is a service that provides pay-per-click advertising on both the Bing and Yahoo! search engines. Similar to Google AdWords, Bing Ads uses both the maximum amount an advertiser is willing to pay per click on their ads and the advertisement’s click-through rate (CTR) to determine how frequently an advertisement is shown. It allows advertisers to target their ads by restricting their ads to a given set of demographics and by increasing their bids whenever the ad is seen by a user of a certain demographic.
In its announcement, Melissa Alsoszatai-Petheo, Advertiser Policy Manager at Bing Ads, said it is banning crypto ads because the digital currency market is not regulated and therefore “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,” said Petheo.
The updated financial products and services policy will go into effect globally in June, and enforcement will roll out in late June or early July.
Bing Ads is the latest advertising platform to ban cryptocurrency-related ads. Facebook became the first social media platform to ban ads for cryptocurrencies in January of this year. In March, Google announced a ban that comes into force in June. This was followed by a similar decision taken by social networking service Twitter.