On October 3, the British government announced that it was giving up sovereignty over a small tropical atoll in the Indian Ocean known as the Chagos Islands. The islands would be handed over to the neighboring island country of Mauritius, about 1,100 miles off the southeastern coast of Africa. [...]
Once this treaty is signed, the British Indian Ocean Territory will cease to exist. Various international bodies will update their records. In particular, the International Standard for Organization (ISO) will remove country code "IO" from its specification. The Internet Assigned Numbers Authority (IANA), which creates and delegates top-level domains, uses this specification to determine which top-level country domains should exist. Once IO is removed, the IANA will refuse to allow any new registrations with a .io domain. It will also automatically begin the process of retiring existing ones.
But stick around for the history lesson of the Slovenian Domain Heist!
Slovenian academics traveled to Serbia at the end of 1992. Their destination was the University of Belgrade in the country's capital. On arrival, they broke into the university and stole all the hosting software and domain records for the .yu top-level domain -- everything they needed to seize control. For the next two years, the .yu domain was unofficially operated by ARNES (Academic and Research Network of Slovenia), which repeatedly denied its involvement in the original heist. ARNES rejected all requests by Serbian institutions for new domains, severely limiting the country's ability to participate in the growing internet community. The situation became so messy that, in 1994, IANA founding manager Jon Postel personally stepped in and overrode IANA regulations, forcibly transferring ownership of the .yu domain back to the University of Belgrade. [...]
The IANA may fudge its own rules and allow .io to continue to exist. Money talks, and there is a lot of it tied up in .io domains. However, the history of the USSR and Yugoslavia still looms large, and the IANA may feel that playing fast and loose with top-level domains will only come back to haunt it.
Previously, previously, previously, previously, previously, previously, previously.