The Internet Corporation for Assigned Names and Numbers (ICANN) is breaking free form US Department of Commerce. Since 1998, ICANN had a Memorandum of Understanding with the US Government, but now has signed an “Affirmation of Commitments” which breaks ICANN free. Previously, ICANN was only answerable to the Department of Commerce, but now it is more internationally-balanced. It has its own Government Advisory Committee which will manage ICANN. Now ICANN will have to send reports to reviewers selected by its own Advisory Committee and to international governments, besides the Department of Commerce.
ICANN was criticized for delays in intentional domain name arrivals and slow to adapt measures useful to adapt browsing in other countries. But now with the new affirmation, those are expected to be overcome.
One big change brought by this is domain names in international languages. By next year, top-level domains in international languages will be available. So you could get your domain in Chinese or Russian.
More on ICANN Accouncements.