Published: Thu, May 17, 2018
Finance | By Loren Pratt

What Does the End of Net Neutrality Mean for Cryptocurrency

What Does the End of Net Neutrality Mean for Cryptocurrency

The exceptional triumph for Democrats is definitely short lived with a homogenous resolution anticipated to terminate in the house where Republicans have prodigious majority.

The FCC, led by Trump-nominated Ajit Pai, decided past year to end net neutrality rules in a move that voters across the political spectrum largely opposed.

Still, Democrats are already using their messaging in campaign material. Only some minor parts of the repeal took effect such as including the internet as an information service rather than a utility. The House has a much larger Republican majority, however, and a lot of them support the FCC's decision to overturn net neutrality regulations.

"Make no mistake - the abolition of net neutrality will erode the democratic fabric that binds the Internet together", said McGrath.

Additionally, a Nexis search for "net neutrality" produced zero results among the nation's top newspapers, including The New York Times, The Washington Post, The Wall Street Journal, the Los Angeles Times, the Chicago Tribune, the New York Post, and USA Today.

All Senate Democrats and three Republicans, Susan Collins, Lisa Murkowski and John Kennedy, successfully brought the issue to the floor and voted to overturn it with a final tally of 52-47. Only three Republican senators voted in favor of the resolution.

Net neutrality is the principle that Internet Service Providers (ISPs) should provide equal access to all applications, content, platforms, and websites, and can not discriminate against content or content providers by making certain web page, applications, or videos load faster or slower than others.

But in a last ditch effort to keep the regulations, Democrats used an obscure tool called the Congressional Review Act (CRA) to reverse the ruling. Tech giants such as Google and Facebook have been vocal in their support for the retention of the rules.

Lobbyists tried to convince senators that net neutrality rules aren't needed "because ISPs will self-regulate", and that blocking, throttling and paid prioritization are just hypothetical harms, Markey said.

"As the inventor of the web, Sir Tim Berners-Lee, said, the internet must remain a permissionless space for creativity, innovation and free expression", said McGrath. "It's disappointing that Senate Democrats forced this resolution through by a narrow margin".

Even if the resolution fails, many states, including California and NY, are doing all they can to fight back against the FCC's decision with their own net neutrality proposals.

Some say the decision could be largely symbolic, given that the majority of the American public support net neutrality and politicians are well aware how their stance on the issue might affect them when voters go to the polls for the midterms. The FCC's reckless decision to end net neutrality creates major uncertainty for small businesses and threatens their ability to grow and create jobs in New Hampshire.

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