Recent blog posts from Redmond’s advertiser policy manager, Melissa Alsoszatai-Petheo, suggest that the Washington-based software giant we all know and love, Microsoft, has been evaluating its policies towards cryptocurrencies. The primary aim of the company is to supply a safe and reliable search engine for both consumers and digital advertisers, and it seems that Bitcoin ads aren’t part of the plan.
To be more specific, Alsoszatai-Petheo stated that Microsoft feels that crypto ads present a “possible elevated risk,” with the potential for “bad actors to participate in predatory behaviours, or even scam consumers.” Based on that assessment, there is no surprise that the software guru has come to the decision that cryptocurrency and crypto-related product or unregulated binary options will no longer be advertised on Bing. As to when this will take place, there is no date yet set in stone, but there have been talks about late June or early July.
Meanwhile, the likes of Google have announced that starting from June they will stop allowing any advertising related to digital tokens, removing the ones currently existing from all its online platforms. Unfortunately for the market, the news resulted in a Bitcoin price drop of approximately 7%. In a blog post around the time, Google mentioned that it would not allow for any ads concerning initial coin offerings, cryptocurrency wallets, crypto exchanges, and cryptocurrency trading advice.
The move on the part of the technology firms mentioned above come at a time when around the globe, regulators are continually searching for ways to stay on top of the crypto market. This has sent the price of Bitcoin into a surge, affecting not only crypto but also digital token mining industry that has boded exceptionally well for graphics chipmakers NVIDIA Corp.
Microsoft Interested in Applied Blockchain
At the same time, Microsoft has been involved in the blockchain, the innovative technology that underpins the cryptocurrency. Back in February, the software player announced its long-standing plans of creating a new type of digital identity on the internet, along with the following statement:
“Rather than grant broad consent to countless apps and services, and have their identity data spread across numerous providers, individuals need a secure encrypted digital hub where they can store their identity data and easily control access to it,” said Ankur Patel, principal program manager at Microsoft’s Identity division.
Patel also added that creating a “self-owned identity” would make it easy for users, as it would allow for complete control over how and where the technology is used.