THE DEMOCRACY PROJECT BLOG has gotten a look at a draft of the FEC proposed regulations on Internet campaign speech.

UPDATE: Eugene Volokh finds the draft regulations a bit narrow: “I hope the FEC doesn’t really mean to limit the rule to people who do their own hosting, and who compose everything solely on computers that they themselves own. And perhaps in context the final proposed rule will make that clear. But as written, this particular paragraph offers little cause for rejoicing.”

ANOTHER UPDATE: RedState has the full text online.