In the report, Microsoft revealed that it suspended nearly 200,000 accounts from the Bing Ads platform, doubling the number from 2017. Additionally, 900 million bad ads and 300,000 bad sites were removed from the system.
Included in these numbers were more than 5 million advertisements that contained cryptocurrency-related content.
“Cryptocurrency as an asset class saw a bull run in 2018, increasing valuations multi-fold,” reads the report. “The high returns and volatility of cryptocurrencies invited a lot of interest from retail investors and speculators looking to make a quick return. There wasn’t much regulatory oversight, and the overall pseudo-anonymity built into currencies like bitcoin made cryptocurrency a prime target for fraudsters and scam artists to defraud end-users. Bing Ads therefore decided to ban cryptocurrency content from our advertising platform and blocked more than 5 million ads containing cryptocurrency content.”
Last May, Bing decided to ban cryptocurrency-related advertising on its ad platform some months after similar decisions by Facebook (FB), Google (GOOGL) and Twitter (TWTR). In the announcement, Bing cited the potential risks associated with unregulated assets where bad actors could use predatory behaviors to scam consumers.
Since that time, many advertising platforms have loosened their restrictions with Facebook formally announcing that it again allows ads that promote “cryptocurrency and related content from pre-approved advertisers,” but still prohibits initial coin offering (ICO) and binary options ads.
At present, there is no indication that Bing will move towards a similar approach as the report emphasized that it will continue to take a strict approach towards quality and user protection.
Image: Marco Verch / Flickr
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.