Microsoft-powered search engine Bing has joined the likes of Facebook and Google to ban cryptocurrency-related adverts.

The software giant made the announcement in an official blog post, revealing that the main reason for its decision is the unregulated status of cryptocurrencies.

"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 behaviours, or otherwise scam consumers," wrote Melissa Alsoszatai-Petheo, advertiser policy manager at Microsoft.

"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."

Microsoft said Bing Ads will implement this change globally in June, with enforcement rolling out in late June to early July.

The move comes after Google, Facebook and Twitter all decided to ban crypto and ICO-related ads on their platforms.

The bans were hailed by many as good news for the growing cryptocurrency and blockchain space, as it will allow legitimate ventures to grow purely on their merits.