14 DAY TRIAL // Microsoft has recently announced that it would start blocking cryptocurrency advertising on Bing due to the “elevated risk” that it poses to users.
The software giant explains that cryptocurrency is sometimes used for shady campaigns that expose users, and blocking ads that help malicious actors do this is one way to protect customers.
“We are always evaluating our policies to ensure a safe and engaging experience for our Bing users and the digital advertising ecosystem,” Microsoft explained in a statement.
“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.”
Facebook and Google also banned cryptocurrency ads
Starting in June, Bing Ads will no longer allow advertising for cryptocurrency, cryptocurrency related products, and unregulated binary options. “Bing Ads will implement this change to our financial product and services policy globally in June, with enforcement rolling out in late June to early July,” Microsoft explains.
Facebook announced that it would ban cryptocurrency ads back in January, while Google released a similar announcement in March. Google’s new policy blocks ads for cryptocurrency exchanges, wallets, and even gambling, with the search giant pointing to the risk that unregulated financial products pose to customers.
“As consumer trends evolve, as our methods to protect the open web get better, so do online scams,” Google’s director of sustainable ads, Scott Spencer, said. “Improving the ads experience across the web, whether that’s removing harmful ads or intrusive ads, will continue to be a top priority for us.”
Microsoft itself encourages advertisers to reach out to the company for more information ahead of the June target in order to make sure that the content they are promoting on Bing complies with the updated policy.