{"id":53101,"date":"2018-05-17T04:00:43","date_gmt":"2018-05-17T11:00:43","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=53101"},"modified":"2018-05-17T02:05:08","modified_gmt":"2018-05-17T09:05:08","slug":"bing-blocks-cryptocurrency-and-ico-advertisements","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/bing-blocks-cryptocurrency-and-ico-advertisements\/","title":{"rendered":"Bing Blocks Cryptocurrency and ICO Advertisements"},"content":{"rendered":"

Bing, the search engine owned by Microsoft, is following the lead of other major tech companies by banning ads for digital currencies.<\/p>\n

As cryptocurrencies began soaring in popularity last year, ads for new projects started appearing across the internet. While many became familiar with the ridiculous \u201ccrypto expert\u201d ads that promised the secrets to investment success, advertising for new blockchain-based platforms can be much more difficult to parse.<\/p>\n

This confusion and the regulatory uncertainty of the product seems to be what led Bing to ban those ads from their search engine.<\/p>\n

New Policies to Protect Consumers<\/h2>\n
\"\"
Related Story:\u00a0Google Mirrors Facebook Ban on Cryptocurrency and ICO Advertisements<\/a><\/figcaption><\/figure>\n

The change was announced in a blog post<\/a> on the company\u2019s website, and it comes on the heels of similar announcements<\/a> by Google and Facebook. According to the post, these changes will be reflected in the company\u2019s official policies in June, and enforcement will begin later that month.<\/p>\n

Melissa Alsoszatai-Petheo, Bing\u2019s advertiser policy manager, writes:<\/p>\n

\u201cTo help protect our users from this risk, we have made the decision to disallow advertising for cryptocurrency, cryptocurrency related products, and unregulated binary options.\u201d<\/p><\/blockquote>\n

New digital currencies and blockchain platforms typically launch through an Initial Coin Offering (ICO) where the company sells issuances of their new digital currency to interested investors. So far, this process has proven to be incredibly lucrative.<\/p>\n

\"ICO
Related:\u00a0ICO Contributions In 2018 Already Surpass the $5.6 Billion Raised in 2017<\/a><\/figcaption><\/figure>\n

Last year, ICOs raised $5.6 billion<\/a> for new startups, which was a record at the time. However, in just over four months this year, ICOs have nearly doubled that total by netting companies $7.3 billion.<\/p>\n

While this has been a boom for new blockchain startups, it has also been fodder for scammers<\/a> to prey upon the enthusiasm and FOMO that often accompanies ICO investors.<\/p>\n

Because it\u2019s relatively simple to launch and ICO and since there is little formal oversight of the practice, it\u2019s possible to lure unsuspecting investors with promises and a compelling ad campaign. Large media platforms are continually demonstrating that they don\u2019t want any part of this behavior.<\/p>\n

The Effects are Limited<\/h2>\n

For Bing, the effect of their decision is less substantial than for other platforms. Google currently dominates the search engine market<\/a> with as much as 91% of all online searches flowing through their platform. According to The World Economic Forum<\/a>, Google is the most trafficked website in the world.<\/p>\n

\"Facebook
Related Story:\u00a0Facebook May Be Planning to Launch a Native Cryptocurrency<\/a><\/figcaption><\/figure>\n

Meanwhile, Facebook is the third most popular website in the world with more than two billion active accounts. In contrast, Bing accounts for just over 3% of the world\u2019s search engine traffic.<\/p>\n

Bing\u2019s move seems more concerned with the lack of regulatory oversight for digital currencies rather than the viability of qualified projects.<\/p>\n

For instance, Microsoft is involved in several blockchain development collectives including the Enterprise Ethereum Alliance<\/a>, and they are a sponsor of this week\u2019s Consensus conference<\/a> happening in New York City.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bing, the search engine owned by Microsoft, is following the lead of other major tech companies by banning ads for digital currencies. As cryptocurrencies began soaring in popularity last year, ads for new projects started appearing across the internet. While many became familiar with the ridiculous \u201ccrypto expert\u201d ads that promised the secrets to investment […]<\/p>\n","protected":false},"author":5,"featured_media":53335,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"\nBing Blocks Cryptocurrency and ICO Advertisements<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/bing-blocks-cryptocurrency-and-ico-advertisements\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bing Blocks Cryptocurrency and ICO Advertisements\" \/>\n<meta property=\"og:description\" content=\"Bing, the search engine owned by Microsoft, is following the lead of other major tech companies by banning ads for digital currencies. 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