Bing, a web search engine owned and operated by Microsoft, has blocked more than 5 million Cryptocurrency-based advertisements last year in its Ad quality year in review 2018 report. The search engine platform said that the pseudo-anonymity of Cryptocurrencies such as Bitcoin (BTC) made Cryptocurrency a prime target for fraudsters and scam artists to defraud end-users. The company also claimed that this is the reason for the ban of Cryptocurrency-related content from its advertising platform that resulted in over five million ads being blocked.
Moreover, Bing also stated that its ban against weapon advertisement resulted in more than 18 million ads being blocked alongside over 5,000 websites. The company further asserted that its efforts to fight tech scams lead to the closure of over 12,000 Bing Ads accounts. In May Last year, the company joined other internet giants, with announcing that it would ban Cryptocurrency-related advertisements on its network by July 2018. In a statement, Bing then noted that 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.”
Bing is not the first search engine platform who blocked such kind of ads. Social Network platform Facebook, in January last year, also banned Cryptocurrency ads. Google also did the same in last year’s December. Twitter soon followed with a ban on advertising for Initial Coin Offerings (ICO) and token sales. However, those policies have not necessarily reflected the thoughts of their top executives, as the top tech giant has previously introduced bans on Crypto content.