She added that "to help protect our users from this risk, we have made the decision to disallow advertising for cryptocurrency, cryptocurrency related products, and un-regulated binary options". While Facebook announced a total bank on cryptocurrency related ads in late January, Google followed with its own version in mid-March.
It's also worth noting that Bing's ads policies have already prohibited displaying ads for cryptocurrencies which might be facilitating certain illegal purposes such as money laundering, promotion of fake currencies, tax evasion, and others of the kind.
In its announcement, Melissa Alsoszatai-Petheo, Advertiser Policy Manager at Bing Ads, said it is banning crypto ads because the digital currency market is not regulated and therefore "present a possible elevated risk to our users with the potential for bad actors to participate in predatory behaviors or otherwise scam consumers".
Cryptocurrency advertising will be absent from Bing by the end of July...
With this decision it becomes the latest domino to fall, if by domino we mean "advertising platform" and by fall we mean "decide to ban cryptocurrency advertising". The ban is expected to take full effect by late June or early July.
"We keep on evaluating our policies to ensure safety and a good engagement among our Bing users and the digital advertising ecosystem". Two months later, both Google and Twitter banned Cryptocurrency ads from their platform.
Bing's official stance is similar to other companies that have Banned Crypto Ads. Earlier this year, Facebook announced that it will curb crypto ads because they are oftentimes related to "misleading or deceptive practices". The ban will also be applicable to binary options related advertisements.