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The US government has formally approved a plan to transition control of the internet's administrative tasks to the private sector.

In an announcement Thursday, the National Telecommunications & Information Administration (NTIA) gave the green light to a plan developed over two years by the internet community to hand control of the critical Internet Assigned Numbers Authority (IANA) contract to Californian non-profit Internet Corporation for Assigned Names and Numbers (ICANN).

"Today's announcement marks an important milestone in the US government's 18-year effort to privatize the Internet's domain name system," said Commerce secretary Penny Pritzker. "This transition ensures that the Internet continues to flourish...

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