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This is old news, eventually lawmakers will go after piracy with a sweeping bill, but this isn't it.
My guess is the US government will eventually create a 'panel' that determines what sites are to be blocked by major ISPs in the United States to reduce piracy, (obviously, it can never be eliminated).
Sites like rapidshare, hotfile, megaupload, warez forums, torrent sites and maybe even tube sites could be blocked to US traffic. However, like anything regulated by the government the system will not be perfect. Innocent websites could fall victim with little or no recourse, lobbyist could use the law to their advantage, etc, etc.
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