The Washington Post reports that new rules on internet campaigning are likely.
"We are almost certainly going to move from an environment in which the Internet was per se not regulated to where it is going to be regulated in some part," said FEC Commissioner David M. Mason, a Republican. "That shift has huge significance because it means that people who are conducting political activity on the Internet are suddenly going to have to worry about or at least be conscious of certain legal distinctions and lines they didn’t used to have to worry about."
Before anyone panics, though, it is is important to point out that like most government agencies the FEC is generally risk averse and won’t get too far ahead of its skis here. Four of the commissioners have already said they don’t want to restrict independent bloggers (those paid by campaigns would likely be a different story).
At the end of the day, there will likely be restrictions that mirror those in other media and will deal mostly with significant activities and not mere links provided by supporters online.