What Does the End of Net Neutrality Mean for Cryptocurrency

Galtero Lara
May 17, 2018

Senate voted Wednesday to reinstate Obama-era net neutrality rules that the Federal Communications Commission (FCC) repealed last December. "Net neutrality is essential for ensuring new companies can compete with established ones, so we encourage citizens to contact their representatives in the House to make their voices heard".

The FCC's repeal faced backlash from net neutrality supporters, who say without regulation, internet service providers, including NBC's parent company Comcast, could block websites, throttle traffic or even create fast lanes for companies that pay for it. The changes are set to take effect 11 June. Murkowski spent about 30 minutes on the Senate floor discussing that procedural vote with key Republicans and Democrats before making her decision. The CRA allows lawmakers to review and potentially repeal new rules made by federal oversight agencies.

It has been a insane year for Net Neutrality. Maria Cantwell and Sen.

Although it's a major victory for activisists and consumer advocacy groups all around the country, the resolution must be passed by the Republican-controlled House of Representatives and signed by Trump in order for it to be enacted. The potential full support of all Democrats would still see the need for 22 Republicans to agree in order for this to happen, which many U.S. analysts view as a tall order. The FCC voted in December 2017 to undo the net neutrality rules.

Telecoms lawyer at Perkins Coie in Washington told The Washington Post that the vote could have "significant political effects", but warned that it is still not clear how many voters will be motivated enough by net neutrality to show up at the polls.

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Net neutrality, under which the internet has operated since its inception, ensures that there is no favoritism in internet access.

Republicans argued that net neutrality just added unnecessary regulations to the marketplace. And if by some small miracle the legislation were to pass the House, President Donald Trump would likely veto it.

"That's what we're going back to: rules that were in place for two decades under a light-touch regulatory approach that allowed the internet to explode and prosper and grow", Thune said. "They know they won't ultimately be successful, but they want to campaign on their desire to add new regulations to the internet". If an internet service provider which is owned by a conglomerate decides to absorb an exchange then without net neutrality they can charge users extra and or toggle down speeds to access exchanges in competition with their own. Congressman Mike Doyle said he would start a discharge petition, a measure that if signed by the majority of House members, requires a piece of legislation to be put to a vote.

Political commentators say that it's highly unlikely Trump will sign the resolution, because the White House backed the FCC ruling and he also signed a Congressional Review Act previous year, overturning other FCC rules that implemented better privacy protection for internet users.

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