Bing joins the anti-hype for Bitcoin and restricts ads for cryptocurrencies

Bing joins the anti-hype for Bitcoin and restricts ads for cryptocurrencies
May 16, 2018 by Rico Wise

Bing engine has started to share the policy of heavyweight media outlets as the likes of Google, Facebook and Twitter, by prohibiting the promotion of digital currencies in order to defend the customers from frauds, scammers and other deceit. An announcement was released by Bing on 14 May, stating that it is prohibiting digital currency promotion due to the market being uncontrolled, which in its turn may lead to taking advantage of inadvertent customers by criminals.

The newly adopted police comes into force in June 2018, with Bing joining the ranks of platforms that are against cryptocurrency advertising.

Twitter has made its digital currency ad prohibition announcement in March 2018. Two weeks earlier, Google has also prohibited initial coin offering and digital currency promotion, stating that they don't want to see any more damage done to their consumers in this field, and discontinue approaching it without extreme caution. Shortly, Facebook followed in Google’s footsteps by adopting an analogous resolution in January 2018. It caused an outrage amongst the Bitcoin evangelists who reportedly have the intentions of filing a class-action dispute later this year.

Industries in China, South Korea and Russia all aim to file their lawsuits against the monopoly juggernauts of the social media, accusing them of conspiring in order to exploit the market of digital currency. The prohibition has reportedly decreased prices of many digital currencies, including Bitcoin.