Report recommends self regulation for the internet

The US Federal Trade Commission has recommended that no
legislation should be passed on Internet privacy. In a new report entitled "Self-Regulation and Privacy Online" they argue that self regulation is the best way to protect consumer privacy on the Internet. According to the report, significant progress has already been made in this direction, but it also warns that there are some serious challenges which need to be faced.

http://www.ftc.gov/opa/1999/9907/report1999.htm

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