Reddit Admins are revising the rules on its forums to prevent users from posting low quality content about a digital coin as well as manipulative advertising tactics that promote a cryptocurrency. The social news aggregation and discussion website is set to overhaul the well-known crypto-subreddit /r/Cryptocurrency based on reports that professional groups are exploiting it for their own benefit. Reddit Admins reportedly banned more than 800 manipulative accounts from the forum in one day. The moderators posted the new rules yesterday under the heading “Three new rule changes on /r/Cryptocurrency”.
The first rule change was to create a new dedicated subreddit for “Cryptomemes”. Any funny posts and memes placed on /r/Cryptocurrency will be redirected to the new /r/Cryptocurrencymemes sister-sub to allow exclusive and seriously valuable crypto-related news and discussion available on the front page. The rule is currently being soft-enforced until April 2, thus any post seen violating this will be removed and users will be given a warning.
The second rule aims to decrease the number of spam and stealth advertising (or shilling) on the forum by prohibiting specific posts from manipulation groups who place low-quality content about a digital coin in order to promote their own interests. However, these posts will not be outright banned but simply placed under the “Daily Discussion Thread” or a specific cryptocurrency subreddit.
The third rule is set to ban posts that are harmful to the community. Threads that harass or attack users, links to low quality “news sites”, and posts that have biased statements which do not contribute to quality discussion are prohibited.
Before Reddit’s new rules on crypto-related posts and memes, it has already banned cryptocurrency ads from its platform since 2016. Advertisements that tout ICOs and cryptocurrencies were not allowed according to its policy. Currently, it also is banning crypto advertisers from buying Google cached ads.