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According to various sources, Microsoft decided to ban cryptocurrency related ads.

Looks like Bing has joined the fray together with Facebook, Google, and Twitter. The search engine owned by Microsoft will ban cryptocurrency related ads by July.

"We are always evaluating our policies to ensure a safe and engaging experience for our Bing users and the digital advertising ecosystem. 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," the company explained in the official statement.

According to Cointelegraph, Bing is planning to launch a worldwide crackdown on cryptocurrency ads by June or early July.

This is the latest move by search engines to ban crypto ads. The bans began to spread when Facebook decided to discontinue supporting crypto ads on their platform in January. Soon after, Google and Twitter followed the trend.

Surprisingly, after banning cryptocurrency ads, Facebook said that they are exploring cryptocurrencies and might launch one of their own. This does contradict with their actions taken against crypto ads on their platform.

According to the co-founder of Linkedin, these bans could only be “temporary” due to the crypto market being unregulated and unclear.

Overall, these bans have been claimed to serve as a protection from scam projects – suspicious ICOs and crypto opportunities like free mining, giveaways and etc.

In the end, the majority of crypto companies will have to re-shape their marketing strategies to survive in this crypto-less ad world. Luckily, Bing is not as big of a deal as Google or Facebook is.

In addition to this announced ban, it appears that the crypto market faced a selloff due to FUD.

According to FxStreet, Bitcoin has lost around 7% of its value after the news. The BTC/USD pair is trading at $8,234, and the Asian market at $8,103.

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Image provided by fxstreet