Like Google, Bing will be kicking off a ban on advertising for cryptocurrency and related products starting in June, with the rollout of enforcement continuing into early July. 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).
Facebook's advertising policies are internationally broad, and state that the company can not promote any sort of "misleading" or "deceptive promotional practices". Bing recently updated their Ads policy on May 14th in a blog post banning all Cryptocurrency ads.
"We keep on evaluating our policies to ensure safety and a good engagement among our Bing users and the digital advertising ecosystem".
Bing fears that cryptocurrency-related advertisements can potentially increase the risk of users being scammed.
Microsoft Search Engine Bing Announces Ban On Crypto Advertisements
"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", wrote Melissa Alsoszatai-Petheo, a Bing advertiser policy manager, in the announcement.
On its website, Bing said the decision has been made to protect its users from the risks that come with cryptocurrency and unregulated products.
Now, a few months later, Bing hops on the crypto-ad ban train and does the same thing. Though the companies have banned ads, CEO of both Facebook and Twitter embrace Crypto.
According to Microsoft, cryptocurrencies fall under a list of "legally questionable business opportunities", such as Ponzi schemes, pyramid schemes, and investments that depend on adding participants. In January, Facebook announced a ban on all advertising that promoted digital currencies, including initial coin offerings.