diff --git a/proposals/4207-media-identifier-policy.md b/proposals/4207-media-identifier-policy.md
new file mode 100644
index 00000000000..728118ffa83
--- /dev/null
+++ b/proposals/4207-media-identifier-policy.md
@@ -0,0 +1,122 @@
+# MSC4207: Media identifier moderation policy
+
+Moderation policies are used to refer to entities that
+need to be taken down.
+
+No such policy exists for media because of a number of safety,
+security, and legal reasons.
+
+A moderation policy that targets media is highly desired,
+because there is no current means to share knowledge about
+abusive content other than through back-channels.
+
+This is because we must not inadvertently propagate the media
+by referring to it directly.
+
+## Proposal
+
+This proposal builds upon both [MSC4205 Hashed policy entities](https://github.com/matrix-org/matrix-spec-proposals/pull/4205)
+and [MSC4204 m.takedown recommendation](https://github.com/matrix-org/matrix-spec-proposals/pull/4204).
+
+A new policy type is introduced `m.policy.rule.mxc`.
+
+A policy targeting the media `mxc://example.com/0`
+would have the following content:
+
+```json
+{
+  "hashes": {
+    "sha256": "ZDSM130dcJ578ANfiJxoN5Nle2+c5uEkDuHHduxj6AM="
+  },
+  "recommendation": "m.takedown"
+}
+```
+
+As described in [MSC4204](https://github.com/matrix-org/matrix-spec-proposals/pull/4204),
+a reason may be provided with the `m.takedown` recommendation.
+However, in the context of media a reason must not be provided.
+
+This is to prevent the policy being used to classify the media and to
+keep the reason for takedown ambiguous.
+
+### Recommendations
+
+#### [MSC4204](https://github.com/matrix-org/matrix-spec-proposals/pull/4204) `m.takedown`
+
+- When applied to a user: Media is automatically purged from
+  local storage and is never displayed in the client.
+
+- When applied to a room: Messages containing the media
+  uri are automatically redacted.
+
+- When applied to a server: Media matching the mxc uri is immediately
+  quarantined or removed.
+
+A reason should never be provided when this recommendation is used.
+This is to prevent policy lists being used to classify media
+on Matrix in order to deliberately seek a certain classification of
+material.
+
+#### `m.ban`
+
+Moderators may wish to use `m.ban` when media is considered offensive,
+or the subject of a dispute, but not necessarily worthy of
+`m.takedown`.
+
+- When applied to a user: Media is hidden entirely or behind a spoiler
+  tag with an explanation.
+
+- When applied to a room: Messages containing the media uri are
+  automatically redacted.
+
+- When applied to a server: The media is quarantined.
+
+## Potential issues
+
+### Reactive only
+
+This only provides a reactive means to remove the media once it
+has been sent to a room and downloaded on various homeservers.
+
+It can only be proactive in instances where the attacker doesn't
+know the media id has been listed yet, or the media simply
+hasn't propagated to all target homeservers yet.
+
+### Missing reason
+
+As mentioned in
+[MSC4204](https://github.com/matrix-org/matrix-spec-proposals/pull/4204)
+in the
+[concerns](https://github.com/Gnuxie/matrix-doc/blob/gnuxie/takedown/proposals/4204-takedown-recommendation.md#potential-issues),
+the absence reason may make it difficult for moderators to determine
+the context behind the policy.  An attempt to document the reason
+privately exists through [MSC4206 Moderation policy auditing and
+context](https://github.com/matrix-org/matrix-spec-proposals/pull/4206)
+
+## Alternatives
+
+### Content or perceptual hashing
+
+Hashing the content of the media and distributing the media could
+be the same as distributing a content address.
+
+Distributing perceptual hashes is also problematic.
+
+See [MSC4113: Image hashes in Policy Lists](https://github.com/matrix-org/matrix-spec-proposals/pull/4113).
+
+## Security considerations
+
+### Dictionary attack
+
+Please see [MSC4205 Hashed policy entities](https://github.com/matrix-org/matrix-spec-proposals/pull/4205), in particular
+the note on [dictionary attacks](https://github.com/Gnuxie/matrix-doc/blob/gnuxie/sha256-policy-entity/proposals/4205-sha256-policy-entity.md#dictionary-attack).
+
+## Unstable prefix
+
+`org.matrix.msc4207.mxc` -> `m.policy.rule.mxc`
+
+## Dependencies
+
+This MSC depends upon both:
+* [MSC4205 Hashed policy entities](https://github.com/matrix-org/matrix-spec-proposals/pull/4205)
+* [MSC4204 m.takedown recommendation](https://github.com/matrix-org/matrix-spec-proposals/pull/4204)