Joining Tech Peers, Microsoft’s Bing to Ban Cryptocurrency Ads
Microsoft search engine Bing is banning cryptocurrency ads. Following in the footsteps of platforms like Twitter, Facebook, and Google, Bing is turning its back on any kind of publicity for digital assets.
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People Still Don’t Think Crypto’s Safe
The announcement came by way of a short post on the Bing Ads blog. Entities to be excluded from potential advertisements in the future will include cryptocurrencies, unregulated binary options, and other related projects. The ban is expected to take full effect by late June or early July.
Advertising policy manager for Microsoft Melissa Alsoszatai-Petheo explained:
“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 participating in predatory behaviors or scamming consumers. To help protect our users from this risk, we have made the decision to disallow advertising. We are always evaluating our policies to ensure a safe and engaging experience for our Bing users and the digital advertising ecosystem.”
Be Careful What You Say
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 addition, the company’s ads are concentrating primarily on wordage to prevent potential investors from getting the wrong impression. 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.
Following the Footsteps of Big Players
Facebook made a similar ban last January. Company product management director Rob Leathern later commented, “We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception. That said, there are many companies who are advertising binary options, ICOs, and cryptocurrencies that are not currently operating in good faith.”
Facebook’s advertising policies are internationally broad, and state that the company cannot promote any sort of “misleading” or “deceptive promotional practices.”
Another Platform Acts Against Crypto
Google took a similar route last March, saying that all cryptocurrency and unregulated investment schemes would be banned from its AdWords platform given that they were not regulated, and investors have no guarantee that digital currencies are safe.
Google further targeted initial coin offerings and startups that generated cash through ICOs, citing many ventures that have garnered funds through this method only to just walk away with the earnings.
Will we see more advertising bans in the future? Post your comments below.
Images via The Next Web, The Verge