By John D. McKinnon

Rep. Peter Welch (D., Vt.) floated the possibility of a new public entity to oversee the online world and take over some of the difficult decisions that the companies now make over content moderation and other issues.

That's gotten at least a smattering of support in Congress, particularly given the Federal Trade Commission's sometimes tepid performance in overseeing the online environment. Some supporters believe a new agency could develop more expertise than the FTC, which has to oversee vast swaths of the brick-and-mortar economy as well.

Other lawmakers and experts question whether a new agency is needed or would be effective. Some wonder whether it would be subject to what's known as "regulatory capture"--the eventual domination of a regulator by the regulated industry.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

March 25, 2021 15:04 ET (19:04 GMT)

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