The US Government has announced to forego significant control it exercised over internet domain names, IP addresses and some other structural fundamentals of web by withdrawing its oversight role over ICANN.
ICANN was created as a government contractor in 1998 but recently many steps have been taken by ICANN which have moved it away from government control.
Before this recent announcement by US Government, it was represented on the Government Advisory Board of ICANN but now this will not be the case.
The announcement has come at a time when US government is under strict pressure after revelations about NSA spying virtually every part of internet. Many countries have impressed upon US government to relinquish its control of Internet after these revelations.
The exercise of power by US government over ICANN had not been very strict though in the past too. However, with this recent change, that power is also gone. For example now it might not be possible to ban “.sucks” domain names which was recently proposed by senator Jay Rockfeller.