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Elon Musk, the owner of X has revealed the updated guidelines for all those using the platform.
Musk revealed that he will soon start charging users for each post they make.
In response to a discussion regarding the new account policy on X, Musk emphasized that implementing a payment requirement for new users is essential to combat the issue of bots on the platform.
He highlighted that the prevalence of fake accounts results in a scarcity of desirable usernames, ultimately affecting the user experience on X.
“Unfortunately, a small fee for new user write access is the only way to curb the relentless onslaught of bots,” Musk said.
“Current AI (and troll farms) can pass “are you a bot” with ease.
“The onslaught of fake accounts also uses up the available namespace, so many good handles are taken as a result.”
The policy was initially being tested to help reduce spam and improve the experience for users overall.
X announced on October 17, 2023, that new users in New Zealand and the Philippines would be required to pay $1 per year to access key features such as tweeting, retweeting, liking posts, and replying to posts.
The social media platform stated that this measure was implemented to combat spam, platform manipulation, and bot activity.
Elon Musk revealed on April 4 that a cleanup operation was in progress to remove bot accounts and trolls from the platform, even if it meant suspending legitimate accounts.
Furthermore, Musk emphasized that the company would identify those responsible and take legal action against them.
In other news, Nigeria has increased its attempts to control cryptocurrency exchanges, resulting in the detention of two top Binance officials.
The executives traveled to Nigeria after the government banned multiple cryptocurrency trading websites last week, but they were held by the office of the country’s national security adviser and their passports were confiscated, according to a story on the Reuters website.
The ban comes after multiple cryptocurrency websites emerged as popular trading venues for Nigeria’s currency, which has been plagued by chronic dollar shortages.
The naira’s official exchange rate has been trading near the parallel market level since the currency was weakened last month, the second adjustment in less than a year.
Nigeria has been battling debilitating dollar shortages, which have pushed its currency to historic lows after foreign investors withdrew following a previous oil price crash and the imposition of capital controls in 2015.
At a news conference on Tuesday, Nigeria’s central bank governor, Olayemi Cardoso, mentioned Binance while addressing the movement of cash through cryptocurrency exchanges.
“We are concerned that certain practices go on that indicate illicit flows going through a number of these entities [crypto platforms] and suspicious flows at best,” Cardoso told reporters.
“In the case of Binance, in the last one year alone, $26bn has passed through Binance Nigeria from sources and users who we cannot adequately identify,” he added.
Cardoso stated that Nigeria’s anti-corruption agency, police, and national security adviser were coordinating an inquiry into bitcoin exchanges. According to a person familiar with the case, the authorities have been requesting a list of Binance’s Nigerian users since its start.
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