World’s second largest search engine Bing has banned all crypto related advertisement on its platform. Melissa Pacheco, the head of the advertisement branch for the Bing made the announcement.
The news is to be expected given the fact that the Bing is a search engine of Microsoft Corporation. And recently Bill Gates while attending a public event with Warren Buffett comes very strongly against the cryptocurrencies.
He was very brutal in his criticism and at one time claimed that cryptocurrencies are killing people in a fairly direct way. Quite a statement from someone who is targeting real diseases through his charity foundation.
They added a post on the company’s advertisement policy page. Ms. Patheo claims that the crypto market is largely unregulated and thus present an elevated risk to the Bing users and the digital marketing ecosystem.
The threat involves the bad actors who are targeting users and conning them to participate in predatory behaviors.
This is not a new measure by any stretch. The social media and search engine behemoths have already placed very strict procedural limitations on the advertisement regarding crypto assets.
Google which nearly monopolizes the search engine traffic globally did same. Facebook followed it to suit. Twitter also enacted similar method this year.
The underlying theme of all these enlightened bans is that users are so naïve that they can’t take care for their money and are easily conned.
That’s why these tech giants have to act responsibly for us. Milton Freidman would have turned in his grave.
Bing actually noted that they had already rejected twenty-five million such ads involving almost 43,000 bad actors. The stats were staggering.
Bing is planning to bring these changes into force from June and the regulation of execution will go into effect from July as informed by their advertisement policy page.