FEC won't regulate most political activity

WASHINGTON - The Federal Election Commission decided Monday to exempt virtually all political activity on the Internet from the nation’s new campaign finance law.
In a 6-0 vote, the commission decided to regulate only paid political ads placed on another person’s Web site.
The decision means that bloggers and online publications will not be covered by provisions of the new election law. Internet bloggers and individuals will therefore be able to use the Internet to attack or support federal candidates without running afoul of campaign spending limits.“It’s a win, win, win,” Commissioner Ellen L. Weintraub said, adding that the rule would satisfy concerns of campaigns, individuals and the Internet community about whether the campaign finance law applies to Internet political activity.
The commission was forced to act after a federal court ruled that the FEC must extend some of the new campaign financial and spending limits to political activity on the Internet.

Source: MSNBC
A big win for everyone in the political blogosphere!