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ICANN proposes to end US oversight of internet

Is this the end of the Internet as we know it? One reason why there is support for the US overseeing the internet is because of the The First Amendment in the Constitution that guarantees freedom of speech which which helps prevent censorship. The Times of India reports:

ICANN will become an independent entity without US government oversight for the internet’s domain and address system, Chehade said, noting that the transition is likely to take place between July and September 2016.

Source: ICANN proposes to end US oversight of internet – The Times of India