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Microsoft To Disallow Cryptocurrency Advertising On Bing Ads

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Microsoft has decided to disallow advertising for bitcoin and other cryptocurrency, cryptocurrency related products, and un-regulated binary options on Bing Ads, the advertising arm of its search engine Bing. The ban will be in place from late June or early July.

Microsoft has found cryptocurrencies and related products to present a possible increased risk to its users as they are currently not regulated, "with the potential for bad actors to participate in predatory behaviors, or otherwise scam consumers."

Bing Ads' "Financial Product and Services Policy" page states, "Online fraud is a serious problem and often involves financial services. We provide these policies to help your ads meet approval and protect consumers and businesses from being victimized."

"These polices apply to all forms of currency including real and virtual currency," it adds.

Bing Ads is a service that provides pay per click advertising on both the Bing and Yahoo! search engines.

Bing is a web search engine owned and operated by Microsoft. It reaches a global audience of 500 million searchers and powers nearly one in three U.S. desktop searches.

The move by Microsoft comes exactly two months after search engine giant Google also said it would ban advertisements promoting cryptocurrencies and related content including initial coin offerings or ICOs from June.

In late January, social media giant Facebook Inc. had taken a similar stand, banning all advertisements promoting cryptocurrencies.

Several other social media platforms like Snapchat, Twitter, Yandex and MailChimp also prohibited ads promoting cryptocurrencies and related content including ICOs, exchanges, and wallets since January.

Meanwhile, a newly founded Eurasian Blockchain Association or EBA, comprising Russian, Chinese and South Korean associations for cryptocurrency and Blockchain, is planning to file a lawsuit against the ongoing ban of cryptocurrency-related advertisements by social media giants.

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