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The Chagossians want .io back and they are fixated on cryptos using .io (If you own .io a must read)

Labeled as domains in Domain Industry News, started by equity78, Jul 10, 2020

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  1. equity78

    equity78 Top Member TheDomains Staff TLDInvestors.com PRO VIP ★★★★★★★★★★

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    Back in 2014 GigaOM published a story on the .io extension, the country code for the British Indian Ocean Territory. With the ominous title, The dark side of .io: How the U.K. is making web domain profits from a shady Cold War land deal. Things came to the surface about who runs the .io extension, […]

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  2. Don Gondon

    Don Gondon Established Member

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    So they want to TAX businesses basing on their domain extension? Do these guys even understand how internets work :xf.eek:
     
  3. equity78

    equity78 Top Member TheDomains Staff TLDInvestors.com PRO VIP ★★★★★★★★★★

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    Yeah Don the complaint goes in a lot of directions. They seem to say they themselves have investigated fraud in crypto. Tying it to the extension, I think that is just to make the UK look bad. They even put out a press release separate from the complaint.

    UK Accused of Allowing Billions in Crypto Fraud in its Indian Ocean Colony

    Chagos Islanders Seek Restitution of Popular .IO Domain

    London (July 9, 2020):

    British Indian Ocean Territory is best known for the secretive US naval base on Diego Garcia Island but is also home to the top level domain .IO that is popular with crypto asset and technology companies.



    The United Nations General Assembly, African Union, and International Court of Justice have found that Britain’s deportation of the Chagos Islanders a generation ago and continued occupation of the Chagos Archipelago (British Indian Ocean Territory) is unlawful and a serious violation of international law.



    According to the Complaint the British have stubbornly refused to vacate the Chagos Archipelago not only due to the presence of the US naval base but because billions of dollars in covert financial transactions are at stake.



    In 1997 a secret agreement with the British Crown resulted in the creation of the top level domain country code .IO (ccTLD .IO). .IO was a relatively low key alternative domain until about 2016 when its popularity exploded in connection with the rise of cryptocurrency. In 2017, the company administering .IO was sold for $70 million to internet giant Afilias Ltd. which is the world’s second largest Internet domain name registry.



    The Chagos Islanders are now seeking restitution and return of .IO which has made the Chagos Archipelago one of the world’s least known but largest offshore financial centers by daily dollar volume.



    A complaint has been filed with the African Commission of Human & Peoples’ Rights (the Banjul Court) which has jurisdiction over the Chagos Islands and the issues of recovery and restitution.



    According to Dr. Jonathan Levy, the international lawyer representing the Chagos islanders, while .IO is utilized by legitimate companies, it is also remarkable for crypto asset based criminal operations: Ponzi and pyramid schemes, High Yield Investment Platforms, and fraudulent Initial Coin and Token offerings. Dr. Levy explains: “The criminals know there is zero law enforcement in the British Indian Ocean Territory, they use only cryptocurrency, they need no address besides a .IO domain and crypto wallet to commit crimes like fraud, money laundering and extortion.” Dr. Levy estimates tens of billions of dollars a day in unregulated crypto asset transactions take place in .IO involving hacking, tax evasion, money laundering, fraudulent investment schemes, gambling, terrorism and organized crime financing including the well-known crypto scams OneCoin and USITech.



    A link to the case is here: https://no_url_shorteners/IOdomain



    For more information contact:

    Dr. Jonathan Levy, Attorney & Solicitor

    [email protected]
     
  4. Mytz.com

    Mytz.com Top 4L [email protected] ieie.com CuTu.com NeSu.com KKiK.com VIP Gold Account

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    Is IO domain name valuable?
    I had a few IO domain names before, but they all lost money
     
  5. linuxfreak

    linuxfreak Living in Command Line

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    They are valuable only if you have generic names.
     
  6. equity78

    equity78 Top Member TheDomains Staff TLDInvestors.com PRO VIP ★★★★★★★★★★

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    What were the names?
     
  7. pb

    pb Top Contributor VIP ★★★★★★★★★★

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    "The Complainants are mindful that someday the digital patrimony and property of the Chagos Islands will be restored to them by the Occupying Power. As ccTLD.IO is perhaps the most valuable asset and going business in the BIOT"

    Surely they'll want to rename the islands after getting rid of the occupants, so why would they be worried about the TLD, it will just get obsoleted like .dd. Or maybe they'd like to get a new TLD (corresponding with the new name) but keep .io operative like Russia with .su? But While .su appeals to some Russians for nostalgic reasons, I don't think any of the Chagossians will be nostalgic about BIOT, at least they don't sound like they would.
     
  8. RJ

    RJ Domain Buyer PRO VIP ★★★★★★★★★★

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    Well, so much for investing in .IO domains. I'm staying clear of them now.
     
  9. equity78

    equity78 Top Member TheDomains Staff TLDInvestors.com PRO VIP ★★★★★★★★★★

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    I don't know about that, I think they see .io as a valuable asset they might not want to see that go and rather profit from. Just my opinion.
     
  10. Goorga

    Goorga Established Member

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    Hi,am from Mauritius i and can say nothing will change the dot .io will operate as it is,even if we get back Chagos the Mauritian Gov will do the Ruling.
     
  11. equity78

    equity78 Top Member TheDomains Staff TLDInvestors.com PRO VIP ★★★★★★★★★★

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    Well that's not 100% up to a country, IANA can decide if a country no longer exists to retire the cctld. I doubt they will but no one can give 100% guarantee.
     

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