It's basically a bill that can make the creation of technology that could possibly be used for "piracy" illegal. More on Dan's blog. Please take a look. It's quite absurd and dangerous. If it's moving quickly, I think we need to mobilize against it as soon as possible. Japan always gets hand-me-downs of ugly US bills so please stop it!Dan GillmorCongress Goes After Peer to Peer
I hadn't been taking some proposed new copyright legislation very seriously, mainly because it's logically absurd on its face. But the "Inducing Infringement of Copyrights Act of 2004" (PDF) seems to be moving so quickly that we have to pay attention now.
UPDATE - a scenario of what would be illegal:
Here's EFF's hypothetical complaint against Apple (for making the iPod) C|Net (for reviewing the iPod), and Toshiba (for supplying hard drives for iPods).